Suzano (SUZ) Buys 15% Stake in Lenzing to Boost Market Presence

The deal was set at 230 million euros ($249 million). Suzano and B&C will form a long-term syndicate to hold a 52.25% stake in the Vienna-based cellulosic fibers supplier company. B&C will hold the majority of the stake (37.25%) and remain the controlling member of the new syndicate. Lenzing is a global supplier of premium cellulosic fibers for the textile and non-woven industry. This deal will further strengthen Lenzing's position as a global market leader for sustainable cellulosic fibers. SUZ aims to boo ...