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Siemens Won’t Buy Suzlon Unit REpower

According to reports, German industrial conglomerate Siemens AG isn’t planning to buy Suzlon Energy Ltd.’s German wind turbine unit REpower.

“I see no need,” board member Michael Suess said at the sidelines of the 19th Munich Management Colloquium.

Siemens’ positioning in the offshore sector is excellent, Mr. Suess said, while describing the onshore sector is difficult.

People familiar with the matter had said that Suzlon Energy had held first talks with potential buyers, including Siemens, but that the indebted Indian company was reluctant to sell its German unit.

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