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MACHINIST - Suzlon sells entire stake in Hansen for about Rs. 890 Crores

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Home arrow Business News arrow Suzlon sells entire stake in Hansen for about Rs. 890 Crores

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Suzlon sells entire stake in Hansen for about Rs. 890 Crores
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Written by Vijay   
Friday, 14 October 2011

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Mumbai: Suzlon Energy Ltd closed sale of its 26.06% equity interest in Hansen Transmissions International NV, Belgium and received sale proceeds of about Rs 890 Crores.

AE-Rotor Holding BV, an indirect wholly owned subsidiary of Suzlon Energy Limited, had executed an irrevocable undertaking in favour of ZF Friedrichshafen AG, under which AERH had undertaken to accept the offer made by ZF International BV for the entire issued share capital in Hansen Transmissions International NV at 66 pence per share.

Suzlon has tendered its shares under the offer. ZF declared the offer unconditional on October 06, 2011, and has acquired from AERH, 174,632,079 Depository Receipts in Hansen, for a sum of GBP 115,257,172.14.

Last Updated ( Friday, 14 October 2011 )
 
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