Germany

Germany

Alstom and Suzlon 'no comment' on Repower reports

GERMANY: Alstom is in negotiations with Suzlon to buy Repower for €1.5 billion, according to a report in the German business press.

Financial Times Deutschland has claimed talks between the two companies are already underway and that Alstom has access to Repower's financial data.

The paper states that a recent refinancing plan undertaken for Suzlon by Morgan Stanley is being used to compile business data to enable the sale of Repower. It said the move was being forced on Suzlon by its own finanical concerns.

Asked to comment on the report, Suzlon said it was "totally speculative" while Alstom also refused to confirm or deny its accuracy.

In 2007, Suzlon took a controlling stake in Repower for $1.6 billion. Late last year Suzlon acquired total control of Repower. In April, it raised its stake in Repower to over 95% allowing it to forcibly acquire the remaining shares in the company.

Coincidentally, Suzlon orginally acquired control of Repower while bidding against another French industrial giant, Areva. At the same time, Alstom acquired Spanish wind turbine manufacturer Ecotecnia for €350 million.

Speaking to Windpower Monthly in November, Repower CEO Andreas Nauen spoke about synchronising its activities more closely with Suzlon. For exampe, Repower took over Suzlon's operations in Australia while Suzlon manufacturers Repower's 2MW turbines.

Repower has a large slice of the offshore sector with its dominant 5MW and 6MW turbines. However, Alstom is developing its own 6MW offshore turbine.


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