Suzlon may sell stake in Hansen to cut debt-paper

Suzlon may sell stake in Hansen to cut debt-paper
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First Published: Mon, Jun 15 2009. 10 09 AM IST
Updated: Mon, Jun 15 2009. 10 09 AM IST
New Delhi: India’s wind turbine maker Suzlon Energy is considering the sale of part or all of its stake in Belgian company Hansen Transmissions in a bid to repay part of its debt, The Economic Times reported on Monday, citing people close to the development.
AE-Rotor Holding B.V.,a company directly controlled by Suzlon owns 61.28% in Hansen, according to the Belgian firm’s website. At current prices, the stake is worth around $960 million.
The newspaper said the stake sale was in addition to Suzlon’s plan to place around $423 million of its shares to a qualified institutional investor.
The two moves together would help reduce part of Suzlon’s Rs12,000 crore debt, it said.
A Suzlon spokesman, when contacted by agency said that the company would not comment on market speculation.
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First Published: Mon, Jun 15 2009. 10 09 AM IST