Suzlon, Areva Sign Framework For Shareholding In REpower

NAW Staff, Friday 25 May 2007 - 11:17:51

India-based wind turbine manufacturer Suzlon Energy Ltd. and French nuclear power developer Areva Group SA have signed a binding agreement governing a framework for the companies' shareholding in REpower. The agreement brings to an end a bidding contest between Suzlon and Areva for REpower that began in late January.

"Given our arrangement with Areva, we now directly and through voting pool agreements already control over 60 percent of REpower's capital," says Tulsi Tanti, chair and managing director of Suzlon, "and over the next week, we will also know how many shareholders have finally tendered into our offer."

Tanti adds that Areva likely will "continue to support the wind industry and growth of REpower," and the companies will expand their relationship in the areas of transmission and distribution.


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