Suzlon Energy to acquire REpower Systems AG, Germany

Suzlon Energy Ltd has announced that the Board of Directors of the Company at its meeting held on February 09, 2007, has approved the following:

1. The acquisition of up to 100% shareholding of REpower Systems AG, Germany a Company engaged in the business of design, development, manufacturing and supply of wind turbine generators and a stock corporation listed on Frankfurt Stock Exchange through a voluntary public tender offer through one or more of its overseas subsidiary Companies and / or one or more of its overseas step-down subsidiary Companies, jointly with Martifer SGPS, SA, Oliveira de Frades, Portugal.

2. The conclusion of a Takeover, Shareholders and Pooling agreement among one or more of its overseas subsidiary Companies and / or one or more of its overseas step-down subsidiary Companies and Martifer SGPS, SA and certain of Martifer's affiliates relating to the acquisition / public tender offer referred to in Clause I above, including the issuance of a parental guarantee as regards the performance of its overseas subsidiary Companies and / or overseas step-down subsidiary Companies obligations vis-a-vis Martifer SGPS, SA and its affiliates.

3. To provide a corporate guarantee to secure appropriate financial assistance being granted by various leaders to such one or more overseas subsidiary Companies and / or overseas step-down subsidiary Companies being the borrowers for the aforesaid acquisition.

The aforesaid acquisition would be subject to satisfaction of certain conditions precedent as may be stipulated in the voluntary public tender offer as to be approved by the German Stock Market Regulator (BaFin) and respective competent competition authorities.

Source : Equity Bulls

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