North American Windpower: REpower's Boards Accept Suzlon's Takeover Offer

REpower's Boards Accept Suzlon's Takeover Offer

by NAW Staff on Wednesday 07 March 2007

The supervisory board and management board of REpower Systems AG, a Germany-based wind turbine manufacturer, have approved Suzlon's takeover offer of 126 euros per share, or 1.02 billion euros.

According to REpower, the company's boards recommended accepting the offer because Suzlon would be an appropriate strategic partner for the accelerated growth of the international wind energy industry. In addition, Suzlon's offer is 21 euros higher per share than AREVA's competing offer of 105 euros per share.

To view the "Statement of the Executive Board," visit repower.de/fileadmin/download/ir_uk/Stellungnahme_Vorstand_Eng.pdf.

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