Suzlon Energy to increase stake in German firm

Calcutta News.Net
Monday 1st September, 2008 (IANS)

Suzlon Energy Monday said it has signed an agreement with Martifer SGPS of Portugal for an early acquisition of Martifer's 22.48 percent stake in German turbine manufacturer REpower Systems.

'The cost of the acquisition could go up to Euro 270 million and the deal should be concluded by 15 December, 2008,' the company said in a regulatory statement.

This acquisition would consolidate Suzlon's total holding in REpower to approximately 90 percent.

REpower is a leading turbine manufacturer in the German wind energy sector.

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