Suzlon receives shareholder nod for Senvion sale

Wind turbine maker Suzlon has received share holder approval for the sale of its subsidiary Senvion to US-based private equity firm Centrebridge. The deal to sell Senvion was finalised in January for a billion Euros (about Rs 7200 crore).

Suzlon informed the stock exchange today about share holder approval to divestment of Senvion, issue of 100 crore equity shares of the company on a preferential basis, sale of SE Forge Limited, categorised as a non core asset.

In a statement Tulsi Tanti, chairman, Suzlon Group said:  “I am confident the bold decisions taken in the recent past by the company will pave the way for Suzlon’s resurgence. I wish to reiterate that these initiatives are in the interest of all stakeholders and aligned to our endeavour of creating maximum shareholder value. We will capitalize on our technological prowess, sustained market leadership of 18 years and best-in-class services to tap the immense growth opportunities in our home market, USA and other emerging economies.”