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Suzlon fully acquiring Germany’s Repower Systems

13/04/2011
REpower md70 wind turbine in schülp, dithmarschen

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Suzlon Energy Limited, the world’s third biggest wind turbine maker, is moving to acquire remaining stocks held by minority shareholders in Repower Systems A.G. and turn the German company into its wholly-owned subsidiary.

Germany‘s regulatory rules allow a stockholder with 95 percent shares of a company to start “squeeze-out proceedings” to buy shares held by minority shareholders.

AE-Rotor Holding B.V., a unit of Suzlon, has asked Repower’s board to begin this process. It holds 95.16 percent of the firm, Repower said in a statement yesterday.

The share transfer will result in Repower being a wholly-owned subsidiary of the company, Suzlon said in a statement at the National Stock Exchange of India.

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