Suzlon Energy revises acquisition price of REpower Systems AG, Germany to Euro 150

Suzlon Energy Ltd has announced that SE Drive Technik GmbH, Germany, a step-down wholly owned subsidiary of the Company and a Company acting in concert with Suzlon Windenergie GmbH, another step-down wholly owned subsidiary of the Company has purchased 627,000 shares constituting 7.7% of the pre-capital increase share capital of REpower Systems AG, Germany at a price of up to Euro 150 per share.

Thereby the offer price of the voluntary public tender offer for acquiring up to 100% share of REpower Systems AG, Germany stands revised to Euro 150.

The stock has been subdued and drifting lower due to the competition from Areva to acquire REpower Systems AG. The stock is currently trading at Rs.971.50, down from its yearly high of Rs.1510 touched in November 2006.

Source : Equity Bulls

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