Areva Sells Minority Stake In REpower

Areva has announced the sale of its 30% stake in REpower to Suzlon for more than EUR 350 million [US $536.1 million]. The deal has an option that gives Areva the possibility of selling its shares to Suzlon at a guaranteed price. The move follows Areva’s September 2007 acquisition of a majority holding in turbine manufacturer Multibrid.

The acquisition consolidates Suzlon’s total holding in REpower to approximately 66%. Suzlon also enjoys voting rights of approximately 89% through its voting pool agreement with Martifer of Portugal, the other major shareholder in REpower.

“This is an important step forward clearly demonstrating our unchanged long-term commitment towards the Repower,” said Tulsi Tanti, Chairman and Managing Director of Suzlon Energy Limited.

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