Home >Industry >Energy >Suzlon gets investors’ nod to sell German arm Senvion
Suzlon had acquired Senvion for over Rs7,300 crore in 2007. Photo: Mint
Suzlon had acquired Senvion for over Rs7,300 crore in 2007. Photo: Mint

Suzlon gets investors’ nod to sell German arm Senvion

Suzlon had earlier announced selling Senvion to Centrebridge Partners for a minor loss, mainly to cut debt

New Delhi: Wind turbine maker Suzlon Energy on Monday said it has received shareholders’ nod for the sale of its German arm Senvion and issue up to 1 billion equity shares on a preferential basis.

“Suzlon receives shareholders and CDR EG’s (corporate debt restructuring empowered group) approval for Senvion sale and issue of up to 100 crore (1 billion) equity shares on preferential basis," the company said in a filing to BSE. Earlier, debt-laden Suzlon had announced selling its German subsidiary Senvion to US-based venture capital fund Centrebridge Partners for a minor loss, mainly to cut debt.

Suzlon had acquired Senvion (earlier known as REpower) for over 7,300 crore in 2007.

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