Suzlon sales Senvion

Pune, India - Suzlon Group signed a binding agreement with Centerbridge Partners LP, USA to sell 100 percent stake in Senvion SE, a wholly owned subsidiary of the Suzlon Group.

The deal is valued at 1 billion Euro (approx Rs. 7200 Crs) equity value in an all cash transaction and future earn out of up to an additional 50 million Euro (approx Rs 360 crs). The transaction is subject to Regulatory and other customary closing conditions. Senvion to give Suzlon license for off-shore technologies for the Indian market. Suzlon to give Senvion the S111-2.1 MW license for the USA market.

The 100 percent stake sale of Senvion SE is in line with Suzlon

Source: IWR Online, 22 Jan 2015