Mumbai: India’s Suzlon Energy has sold a 10% holding in Belgium-based wind turbine gearbox maker Hansen to a London investment firm, the Indian company said on Friday.
Suzlon, the world’s fifth-largest wind turbine maker, said its unit AE-Rotor Holding sold 67.01 million shares in Hansen Transmissions International to Ecofin, but did not disclose the price.
Shares in Hansen closed at 116.75 pence on Wednesday and the London market was closed on Thursday for the New Year holiday.
Following the transaction, Suzlon’s holding in Hansen will drop to 61.28% while Ecofin will have 11.62%, Suzlon said in a statement.
Suzlon has been scouting for funds to raise its stake in Germany’s REpower, after it deferred its Rs18 billion ($367 million) rights issue in October due to falling markets.
The company had struck a deal in September to Portugal’s Martifer’s 22.48% in REpower. The transaction was deferred to May this year from December to help it arrange funds.