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Suzlon Energy to Acquire 100% of Repower Systems

As Panchabuta has earlier said, Suzlon announced a very impressive record order book of $7.3bn equal to about 5000MW of Wind capacity last quarter. Suzlon in the last couple of months has been on a trail blazing order booking spree. Some of the significant wins have been covered by Panchabuta.

A few days ago, Suzlon Energy announced plans to shortly start making REpower wind turbines at its plant near Mangalore. Further, the offshore wind business is set to take off in India and Suzlon will expect that REpower will dominate that market in India with Suzlon’s market and sales expertise.

According to a report in the WSJ, Suzlon Energy Ltd said it has taken the necessary steps to push for a 100% stake in its German unit, REpower Systems AG, after raising its stake to 95.16%.

Indian wind turbine maker Suzlon Energy previously had a 90.5% stake in REpower.

Suzlon said under Germany’s regulatory rules a shareholding of 95% in a listed company allows the majority shareholder to “initiate squeeze-out proceedings” on minority shareholders.

Suzlon, through its unit AE-Rotor Holding B.V., has asked the board of REpower to begin the buy out of the minority shareholders, the company said.

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