Suzano Papel e Celulose SA (SUZ) has released an update.
Suzano Papel e Celulose SA’s Board of Directors have approved the acquisition of a 15% minority stake in Lenzing AG from B&C for EUR 229.97 million, with an option to buy an additional 15% in the future. The deal includes Suzano gaining two seats on Lenzing’s Supervisory Board and is subject to customary regulatory approvals. The Board has also empowered the Company’s Executive Officers to finalize the necessary actions for the transaction’s completion.
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