Suzlon Group announced has received approval of the company shareholders and CDR EG (Empowered Group) approval for divestment of Senvion, as follows:
- Divestment of Senvion SE, Germany to Centrebridge Partners,
- To issue up to 100 crores equity shares of the company on preferential basis, in terms of ICDR Regulations to certain persons/entities,
- Sale of non-core asset, namely SE Forge Limited, and
- To make investments, give loans, guarantees, and provide securities beyond the prescribed limits.
The shareholders approval process was conducted through a postal ballot and all the proposed resolutions were approved by requisite majority.
Speaking on the occasion, Tulsi R. Tanti, Chairman, Suzlon Group said: “We thank our shareholders and lenders for their confidence, trust, and faith in the strategic vision of Suzlon. 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.
Tanti continued: “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.”
The Suzlon Group is ranked as the world’s sixth largest wind turbine manufacturer, in terms of cumulative capacity in 2014. The company’s global spread extends across Asia, Australia, Europe, Africa, and North and South America, with over 26,000 MW of wind energy capacity installed, operations across over 31 countries, and a workforce of over 10,000.
Filed Under: News