Saturday, June 6, 2009

Suzlon raises stake in REpower

Suzlon Energy, the world’s fifth largest turbine maker, on Saturday said it had completed the acquisition of Martifer Group’s stake in
REpower Systems AG, which now takes Suzlon’s total shareholding in REpower to 90.72%.

The acquisition was completed in a two-part payment plan that involved Martifer’s remaining 14.4% equity stake in REpower, Suzlon said, adding that the acquisition will now allow Suzlon to transfer REpower’s technology to its subsidiaries in emerging markets.

Suzlon paid Euro 87.6 million on May 29 and Euro 87.6 million June 5, the statement added. The wind turbine maker bought Martifer’s stake in REpower in instalments, with the first tranche of Euro 65 million in December 2008, and the second tranche of Euro 30 million in April 2009.

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