India

India

Suzlon to acquire total control of Repower

GERMANY: Suzlon has raised its stake in Repower to over 95% and is set to acquire the remaining shares in the company.

Suzlon CEO Tulsi Tanti
Suzlon CEO Tulsi Tanti

In 2009, Suzlon increased its stake in Repower to 92%. Under German financial regulations, the majority shareholder is allowed to ‘forcibly’ acquire the remaining shares in a company if it holds more than 95%.

The buyout will take Suzlon’s global market share to 8%, making it the world’s fifth biggest supplier after Vestas, Sinovel, GE and Goldwind according to recent figures from Make Consulting.

According to reports, Repower will continue to operate as a separate subsidiary of Suzlon.

In a recent interview with Windpower Monthly, Repower CEO Andreas Nauen spoke about how the two companies were looking to cooperate more closely in terms of procurement.

However, Nauen also said the two companies could cooperate "without their [Repower and Suzlon] being one company".

In January, there were rumours Suzlon was going to be acquired by Spanish rival Gamesa. In response, Suzlon described the reports as "speculative in nature and inaccurate".

Additionally Suzlon CEO Tulsi Tanti, whose 58% stake Gamesa was rumoured to be buying, has been quoted by Reuters in an internal memo as saying: "There is no question of the Tanti family walking away from our great company."

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