Suzlon to tap debt, accruals for RePower stake

Suzlon to tap debt, accruals for RePower stake
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First Published: Mon, Nov 17 2008. 11 00 AM IST
Updated: Mon, Nov 17 2008. 11 00 AM IST
New Delhi: “Wind turbine maker Suzlon Energy will tap cash on hand and debt to buy Martifier’s stake in its German unit RePower by May,” the company chairman said.
“It was originally scheuled for May. We had accelerated it to December, but we are going with the original schedule,” Chairman Tulsi Tanti said.
Last month Suzlon suspended a $360 million rights issue, the proceeds of which it had planned to use to partly fund the stake buy.
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First Published: Mon, Nov 17 2008. 11 00 AM IST