Suzlon Energy has signed an agreement
with Martifer SGPS SA of Portugal for acquisition of Martifer's total stake of
approximately 22.48 per cent in REpower Systems AG of Germany for total
consideration of Euro 270 million.
The proposed agreement is slated to be
completed by 15 December 2008 and will consolidate Suzlon's total holding in
REpower to approximately 90 per cent.
Suzlon acquired approx 30 per cent in
REpower in June 2008 from major shareholder Areva of France, taking Suzlon's
total holding in REpower to approximately 66 per cent, prior to the acquisition
of Martfier's holding in the company.