Suzlon concludes REpower acquisition bid

Suzlon concludes REpower acquisition bid

BS Reporter / New Delhi June 2, 2007

Suzlon Energy - the country's largest wind turbine manufacturer - now owns 33.85% of REpower, the German wind turbine maker which it acquired recently, and "controls 87.1% of the votes in REpower through so-called Voting-Pool-Agreements with the two REpower shareholders Martifer and Areva."

A statement from the company said that in the additional acceptance period, which lasted from May 11 to May 25, Suzlon received 25.46% of REpower's capital.

With this acquisition, Suzlon will be able to accelerate its expansion into the European wind energy market, which constitutes approximately half of the of the global wind energy market, though the challenge would be to bring up the performance of REpower.

Suzlon had a fierce four month long bidding war with rival Areva, which already owned a third of REpower, before it could wrest control of the company.

Said Tulsi R Tanti, chairman and managing director of Suzlon, "We are happy that henceforth all participants