Mumbai, India & Hamburg, Germany [RenewableEnergyAccess.com] At the end of its takeover bid for the shareholders of the Hamburg-based REpower Systems AG, the Indian wind turbine manufacturer Suzlon owns 33.85% of the company’s shares. In the additional acceptance period, (May 11-25), Suzlon received 25.46% of REpower’s capital.
By this 25.46% and through so-called Voting-Pool-Agreements with the two REpower shareholders Martifer and Areva, Suzlon now controls 87.1% of the votes in REpower. At REpower’s enterprise value of € 1.34 billion [US$1.8 billion], this is reportedly the third largest overseas takeover bid by any Indian company in recent times.
With the acquisition, Suzlon will accelerate its expansion into the European wind energy market, which constitutes approximately half of the of the global wind energy market.
Professor Dr. Fritz Vahrenholt, CEO of REpower, adds: “Together with Suzlon we are a global player in the wind energy market. On a combined basis, we will be able to realize significant synergies.”
Additionally, the complementary product portfolios and R&D strategies will also drive the accelerated development of the next generation of more robust and cost effective wind power solutions, particularly in the offshore wind energy arena, where REpower has developed and commercialized its 5 MW wind turbine, currently the world’s largest.
“We are very happy that two such potent wind turbine manufacturers, that complement each other so well, have come together,” said Stefan Gsanger, Secretary General of the World Wind Energy Association (WWEA), which is based in Bonn. “We are also pleased to be able to work with Suzlon — a company with which we have had very positive experiences — in Germany.”