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Suzlon Energy Concludes Sale of Hansen Transmissions Stake

According to reports, wind turbine maker Suzlon Energy Ltd. Thursday said it has concluded the sale of its 26.06% stake in Belgium’s Hansen Transmissions International N.V. to ZF Friedrichshafen AG.

In July, ZF Friedrichshafen AG had made a cash offer worth 66 pence a share, or GBP444.8 million, for all of industrial machinery firm Hansen Transmissions.

At the time, Suzlon Energy’s wholly owned unit, AE-Rotor Holding BV, signed an “irrevocable undertaking” to sell its 26.06% stake in Hansen to ZF Friedrichshafen for about GBP115 million.

“Today’s news marks an important step towards deleveraging our balance sheet,” Tulsi Tanti, Suzlon’s chairman and managing director, said in a statement.

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