Pune, India [RenewableEnergyWorld.com] Wind turbine manufacturing group Suzlon says it has completed the acquisition of Martifer Group’s stake in REpower Systems AG, giving the company a 90.72% stake in REpower.
The final 14.4% held by Martifer was acquired in two tranches of €87.6 million each, Suzlon says, adding that Martifer has received full consideration in accordance with the agreed timeline.
Tulsi Tanti, chairman and managing director of Suzlon Energy Limited, said: “The completion of the purchase of Martifer’s stake in REpower is a major milestone for Suzlon. With the transaction behind us, we will focus our efforts on building a mutually beneficial business relationship with Martifer by harnessing the complimentary strengths and business models. We continue to pursue our long term strategy for REpower and are committed to its growth and development.”