Wind power company Suzlon Energy’s is selling part of its 71.3% stake in Hansen Transmissions, a gearbox maker for wind turbines. Ecofin, a London-based investment company that claims to specialise in global utility and infrastructure sectors, will buy a 10% stake in Hansen from AE-Rotor Holding BV, a subsidiary of Suzlon. It will now have an 11.62% voting and economic interest in Hansen, indicating it had a small stake earlier too.
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Suzlon Energy to pay Martifer 270mn euros in 3 tranches, 65mn euros right away
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Suzlon Energy has rescheduled its payment to Martifer, the Portuguese construction, energy and distribution company, for its 22.7% stake in Repower. Suzlon will now pay €65mn in December 2008, €30mn in April 2009 and the remaining €175mn in May 2009. The agreement will see Suzlon take control of Repower much later than scheduled but also gives it way out of a messy situation.