Suzlon increases stake in REpower to 83%

Wind Power company, Suzlon Energy today informed the Bombay Stock Exchange (BSE) that it along with the Martifer Group have agreed on the third and final payment of Euro 175 million to buy stake in REpower. According to a filing to the BSE, the final 16.79 per cent stake held in REpower Systems AG by Martifer is being sold to Suzlon as per the earlier decided payment plans. About Euro 87.6 million has been paid already by Suzlon, while the balance of Euro 87.6 million will be paid by the company on June 5. Suzlon's share holding has increased to 83.43 per cent post the earlier payment and will be subsequently hiked to 90.72 per cent post June 5, stated the company.