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Suzlon to buy Martifer’s stake in REpower

Suzlon to buy Martifer’s stake in REpower
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First Published: Mon, Sep 01 2008. 03 52 PM IST
Updated: Mon, Sep 01 2008. 03 52 PM IST
PTI
Mumbai: Wind turbine maker Suzlon Energy has signed an agreement with Portugal-based Martifer for acquisition of the latter’s entire stake in REpower Systems for 270 million euros.
“Martifer has a 22.48% stake in REpower. With this acquisition, Suzlon’s total holding in REpower would go up to 90%,” it said in a statement.
“The completion of the agreement will take Suzlon’s stake in REpower to about 90% and put both companies in a stronger position to derive synergy benefits from the collaboration,” Suzlon CMD Tulsi Tanti said.
In June, Suzlon acquired 30% stake of REpower from France-based Areva, taking its total holding to 66%. REpower is Germany’s biggest wind turbine maker.
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First Published: Mon, Sep 01 2008. 03 52 PM IST