Suzlon Energy Ltd has informed BSE that the completion of the acquisition of Martifer Group’s stake in REpower Systems AG, with a final payment of Euro 87.6 million.
The Purchase of Martifer’s stake in REpower by Suzlon was agreed in February 2007 at the time of the joint bid by Suzlon and Martifer. With the conclusion of this transaction, the final tranche of shares in REpower held by Martifer accounting for approximately 14.4%, which had been acquired in a two part payment plan, has been transferred to Suzlon, who now holds approximately 90.72% of shares and voting rights in REpower.
Source: Bseindia.com