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REpower management favours IPO

According to reports, the management of German wind turbine maker REpower, owned by Suzlon Energy, favours floating a part of the group on the stock exchange in May or June, Germany’s manager magazin reported, citing sources at the company.

Suzlon needs to finance about $600 million in debt from June, and a sale of about 30 percent of REpower could bring in the necessary liquidity, the magazine said.

REpower – which had been listed on the stock exchange before it was taken private by Suzlon – declined to comment on the report.

A Suzlon spokesman said the report was “totally speculative”, adding: “We will not fuel by commenting.”

Les Echos newspaper reported this month that French engineering group Alstom(ALSO.PA) was looking at Germany’s REpower and other wind turbine makers as potential takeover targets.

But Alstom’s chief executive played down the report, saying he would not pursue risky deals.

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