VR Logo

Tanti Sells 4% Stake in Suzlon

The acquisition of REPower led to the stake sale

Wind turbine-maker Suzlons' promoter family, led by Tulsi Tanti, has said that it has sold a 4 per cent stake hold in the company to fund the purchase of Germany-based REPower Systems from Martifer Group.

Suzlon has to pay an amount of 270 million Euros to take over Martifer's 22.4 per cent stake in REPower.

However, the stake sale has led to a fall in promoter holding in Suzlon to 60- per cent.

Suzlon has been gradually raising its stake in REPower having paid Euros 65 million the first time in December, which hiked its stake to 73.1 per cent. In April it hiked its stake to 76 per cent on the payment of Euros 30 million. However, another Euros 150 million are due for payment in May.