Suzlon to sell 26% in Hansen Transmission for Rs 849 crore

The country's largest wind turbine-maker Suzlon Energy on Monday said it will sell its 26 per cent stake in Belgian company Hansen Transmission to German firm ZF Friedrichshafen for $187 million (approximately Rs 840 crore).

Suzlon holds a 26 per cent stake in Hansen Transmission through its Netherlands-based subsidiary, AE-Rotor Holding BV, Suzlon said in an announcement to the Bombay Stock Exchange.

In the offer document, the directors of Hansen have announced that they consider the terms of the offer to be fair and reasonable and have unanimously recommended that the shareholders of Hansen accept the offer.

Suzlon recently made an announcement that it plans to purchase the remaining minority stake in German entity REpower Systems AG for 63 million euros. The transaction would be done through Suzlon's step-down wholly-owned subsidiary, AE-Rotor Holding BV (AERH).

Suzlon has a 95.16 per cent stake in REpower and now plans to buyout the remaining shareholding, amounting to less than 5 per cent.

Shares of Suzlon Energy were trading at Rs 54.35, up 2.74 per cent on BSE.