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Suzlon Energy Ltd, a leading wind turbine manufacturer, today said it has completed the sale of its 26.06 per cent in wind gearbox manufacturer Hansen Transmissions International to ZF Friedrichshafen AG. It got about Rs 890 crore from the stake sale.
The transaction, according to a Suzlon press release, follows an irrevocable undertaking signed on July 25 with ZF to accept the offer made by ZF for the entire issued share capital in Hansen at 66 pence a share. Suzlon tenders its shares under the offer.
The press release quoted Mr Tulsi R. Tanti, Chairman and Managing Director, Suzlon group, as saying: "We acquired Hansen in 2006 and have successfully driven its growth by expanding capacity in Asia. We look forward to a long and fruitful partnership as buyer-supplier in the years ahead."
Suzlon's Rs 2 shares were down 0.92 per cent on the BSE at 11.15 a.m
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