Suzlon Energy completes sale of stake in Hansen

October 13, 2011 | Business | Written by

Mumbai, Oct 13: India’s wind turbine manufacturing major Suzlon Energy Thursday said it has completed sale of its remaining 26.06 percent stake in Belgium-based firm Hansen Transmission to German engineering firm ZF Friedrichshafen AG for Rs.890 crore.

‘Suzlon closed sale of its 26.06 percent equity interest in Hansen Transmissions International NV, Belgium, and received sale proceeds of about Rs.890 crore,’ the company said in a regulatory filing.

During 2006-2008, the wind turbine maker acquired stakes in Belgium-based firm but has been selling stake to bring down overall debt on its books which had reached $2.5 billion during 2009.

At the Bombay Stock Exchange, the shares of the company closed 0.79 percent lower at Rs.37.75.

IANS