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Suzlon ups stake in REpower

MUMBAI: Wind turbine maker Suzlon Energy on Saturday said its stake in Germany based REpower Systems has increased to 90.72 per cent with the acquisition of Martifer Group’s 14.4 per cent stake in the company.

Suzlon has completed “the acquisition of Martifer Group’s stake in REpower Systems, with a final payment of 87.6 million euro (Rs. 574.48 crore),” Suzlon Energy said in a filing to the Bombay Stock Exchange.

With this transaction, Suzlon now holds about 90.72 per cent of shares and voting rights in REpower Systems, it further said.

This is the final tranche of the 270 million euro that Suzlon Energy had agreed to pay to buy Martifers 22.4 per cent stake in REpower Systems. — PTI

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