SOURCE: Industrial Info Resources

September 16, 2008 06:00 ET

Turbine Manufacturer Suzlon's Stake in REpower Rises to Nearly 90%, an Industrial Info News Alert

BANGALORE, INDIA--(Marketwire - September 16, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Suzlon Energy (BOM: 532667) (Pune, Maharashtra), the world's fifth largest manufacturer of wind turbines, is increasing its stake in its subsidiary, REpower Systems AG (FRA: RPW) (Hamburg, Germany), to nearly 90% eight months ahead of schedule. Suzlon is acquiring the 22.48% stake in REpower owned by Martifer SGPS SA (ELI: MAR) (Oliveira de Frades, Portugal), a manufacturer of steel structures used in wind generation equipment, for about 270 million euros ($383 million) at 131 euros ($186) per share. The deal is scheduled to be complete by December 15, 2008.

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