Suzlon concludes Hansen sale to ZF

GERMANY: Suzlon has concluded the sale of its 26.06% stake in Hansen Transmissions to Germany manufacturer ZF Friedrichshafen.

In July, Hansen Transmission International’s major shareholders Suzlon and Ecofin agreed the sale of the Belgian company to German engineering firm ZF Friedrichshafen for £444.8 million.

Suzlon's stake was valued at £115 million.

ZF now has a 96% share of the company and intends to remove it from the London Stock Exchange.

Hansen's current 7.6GW/year manufacturing capacity will add to ZF's 3GW in the US to give a total output capability of around 11GW a year.

The sale of Hansen Transmissions follows its €75 million disposal of its industrial gearbox division last year and comes as Suzlon looks to complete its acquisition of 100 per cent of the shares in Repower.