Suzlon completes acquisition of Martifer stake in Repower

Suzlon - © Suzlon

© Suzlon

Suzlon completes acquisition of Martifer stake in Repower
Saturday, June 06, 2009
• Suzlon now holds 90.72% stake in REpower
• Final 14.4% acquired in two tranches of Euro 87.6 mil each
Pune:

Suzlon Energy Limited announced the completion of the acquisition of Martifer Group’s stake in REpower Systems AG on Friday, 5th June 2009. The purchase of Martifer’s stake in REpower by Suzlon was agreed in February 2007 at the time of launch of the joint bid by Suzlon and Martifer. With the conclusion of this transaction, Suzlon holds 90.72% stake in REpower. Martifer has received full consideration in accordance with the agreed timeline. Mr. Tulsi Tanti, Chairman and Managing Director - Suzlon Energy Limited, said: “The completion of the purchase of Martifer’s stake in REpower is a major milestone for Suzlon. With the transaction behind us, we will focus our efforts on building a mutually beneficial business relationship with Martifer by harnessing the complimentary strengths and business models. We continue to pursue our long term strategy for REpower and are committed to its growth and development."

The final tranche of shares, accounting for approximately 14.4% stake in REpower, was acquired in a two-part payment plan with a payment of Euro 87.6 million on 29th May 2009, and a payment of Euro 87.6 million on 5th June 2009. This transaction follows the payments of the first tranche of Euro 65 million in December 2008 and the second tranche of Euro 30 million in April 2009.

About Suzlon Energy Limited
Suzlon ranked as the world’s fifth leading wind turbine manufacturer in 2008 (see BTM Consult ApS – World Market Update 2008). The company has ranked as the leading manufacturer in the Indian market for nine consecutive years, maintaining over 50% market share. Suzlon has its corporate offices in Pune, India and company’s global spread reflects in its projects and markets portfolio - extending across Asia, Australia, Europe and North and South America. Suzlon is a highly vertically integrated wind turbine manufacturer with manufacturing capability along the full value chain –from components to complete wind turbine systems. The company currently has a combined manufacturing base of 4,200 MW of annual capacity.

Source : Suzlon

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