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Lenzing AG: B&C Group and Suzano Enter Into Long-term Partnership

By: via Business Wire

New York- and São Paulo-listed Suzano S.A. acquires a 15 percent stake in Lenzing AG from B&C Group

B&C Group (“B&C”) and Suzano S.A. (“Suzano”) today announce that Suzano has entered into a long-term partnership with B&C with respect to its majority stake in Lenzing AG (“Lenzing” or “the company”), the Vienna-listed leading global supplier of cellulosic fibres for the textile and non-wovens industry.

Under the terms of the agreement, Suzano will acquire a 15 percent stake in Lenzing from B&C and the two shareholders will form a long-term syndicate which will hold the majority stake (52.25 percent) in the company. Subject to the closing of the transaction, B&C will hold a 37.25 percent stake in Lenzing and keep the role as controlling member of the new syndicate, with Suzano holding the minority stake of 15 percent. The price per share will be EUR 39.70, with a total acquisition purchase price of EUR 230 million to be fully paid at closing.

As part of the long-term partnership, Suzano has the option to acquire an additional 15 percent stake in the company from B&C until the end of 2028. The agreement also stipulates that B&C will remain a committed long-term shareholder in the company.

With an annual net revenue of more than EUR seven billion in 2023, Brazil-headquartered Suzano is the world’s largest market pulp producer. The company, which is celebrating its centennial year, has a long-standing track record of both operational excellence and commitment to sustainability at all stages of its processes, expertise that will complement Lenzing’s existing business model. Suzano is no direct competitor of Lenzing and has extensive experience in pulp, a raw material with significant importance for Lenzing.

Moving forward, B&C and Suzano plan to support Lenzing’s further development by focusing on driving revenue growth, improving profitability and expanding the company’s international competitiveness.

Walter Schalka, CEO of Suzano, said: “Lenzing is already a leading global supplier of premium cellulosic fibres for the textile and non-wovens industry and we recognize opportunities exist for further growth with its established technology, product range and technical knowledge. Our deep-rooted understanding of pulp production and cost excellence makes Suzano, alongside B&C, an ideal partner for Lenzing as it seeks strengthening its competitive position and global presence. For us, this represents a continuation of our strategy focused on investments which enlarge our addressable market in scalable and competitive business models and move us closer to the end-consumer.”

Wolfgang Hofer, Chairman of B&C Group: “We see this partnership as a win-win-win situation for each party involved. With Suzano, B&C will add a financially strong key shareholder for Lenzing with extensive experience and strong reputation on the international financial markets. Suzano as the leading global pulp producer gains proximity to new markets thanks to this transaction. For Lenzing, this transaction means a commitment of both partners to strengthen Lenzing’s position as a global market leader for sustainable cellulosic fibres.”

In line with the foundation purpose of B&C Private Foundation, the new partners have agreed on a long-term commitment to the existing Lenzing site which will ensure the company’s headquarters, production facilities and key R&D activities remain located in Austria. The partnership also guarantees the continued listing of Lenzing shares on the Vienna stock exchange.

The transaction is subject to approval by the relevant regulatory authorities.

About Suzano S.A.

Suzano is the world’s largest producer of market pulp. Our responsibly grown raw materials are used in products reaching over two billion people in more than 100 countries, including tissue and toilet paper, books, printing and writing paper, diapers and period products, packaging, textiles, and a range of innovative applications that can replace products made from fossil fuels.

Our pulp is made using biomass produced from farmed eucalyptus trees, offering a biodegradable, renewable and recyclable raw material for consumer and industrial use. We plant 1.2 million trees a day on our farms and only harvest what we plant. We manage around 26,000 km2 of land and around 40% of this is protected for permanent conservation, with a zero-deforestation policy across all of our operations.

Suzano’s history goes back over 100 years. We are listed on the B3 stock exchange in Brazil (SUZB3) and the NYSE (SUZ) in the United States.

Learn more at: suzano.com.br/en

About B&C Group

The B&C Private Foundation (www.bcprivatstiftung.at) is an independent foundation. Since its inception in December 2000, its goal has been to foster Austrian entrepreneurship and strengthen Austria’s position as a business hub. B&C acts as a stable core shareholder in Austrian industrial companies through its holding companies, the B&C Group (www.bcgruppe.at). B&C is core shareholder of Lenzing AG and holds majority stakes in Semperit AG Holding (54.2%) and AMAG Austria Metall AG (52.7%). Through B&C Innovation Investments, B&C Group has been investing in tech-driven growth companies since 2016. It currently holds stakes in Awake Mobility, Citrine, Contextflow, Flightkeys, Frequentis, Kinexon, Klarx, Neoom, ParityQC, TriLite und TTTech.

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