Suzlon Subsidiary Sells 35% Stake In Hansen Transmission

Posted by NAW Staff on November 20, 2009 No Comments
Categories : New & Noteworthy

Suzlon Energy has sold a 35% stake in Hansen Transmission, its Belgium-based subsidiary, through a secondary placement of depository interest for $370 million, as part of the company's efforts to retire debt.

AE-Rotor Holding BV, an indirect subsidiary of Suzlon Energy, which bought Hansen three years earlier, has completed a secondary placement of about 236 million shares, Suzlon said in a statement.

With the sale, Suzlon's remaining interest in Hansen has declined to 26% from more 61%.

The sale will not result in changes in the composition of Hansen's board.

SOURCE: Suzlon

Leave a Comment