Suzlon raises stake in REpower to 73.71%, Suzlon Wind Energy

Release Date: 2009-01-19

Suzlon Energy Limited, the world’s fifth leading and India’s largest wind turbine manufacturer announced the acquisition of the first tranche of Martifer Group’s stake in REpower for a payment of approximately €65 million. The transaction takes Suzlon’s holding in REpower to 73.71%. Suzlon already holds 91% voting rights in REpower through an existing agreement with Martifer.

Suzlon and the Martifer Group earlier this month entered into an agreement on a revised payment schedule for Martifer's 22.4 percent stake in Repower. As per the new terms, Suzlon acquires the stake in three tranches by payment of Euro 65 mn in December 2008, €30 million in April, 2009, and the final tranche of €175 million in May 2009, which will take Suzlon’s ownership level to approximately 91% in REpower.

Type:	NORMAL
Company:	Suzlon Wind Energy
Country:	India