Suzlon Suspends Domination Agreement With REpower


REpower Systems AG has announced that Suzlon – its majority shareholder – has requested that the management board of REpower enter into negotiations regarding the execution of a domination and profit transfer agreement between REpower and SE Drive Technik GmbH, a member of the Suzlon Group.

REpower is in fairly advanced negotiations with a syndicate of banks regarding the financing of the company's further growth. The syndicate of banks makes it a condition precedent for the execution of the financing agreements that the parties refrain from entering into a domination and profit transfer agreement. Against this background, and given the current financial market crisis, REpower and Suzlon have decided that they will no longer pursue the negotiations regarding a domination and profit transfer agreement if this growth financing is executed.

SOURCE: REpower Systems AG

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