Wind power major Suzlon Energy today announced the acquisition of German wind turbine manufacturer REpower after the French nuclear energy group decided to withdraw from the bidding contest.
"We are delighted with the development. Given our arrangement with Areva we now, directly and through voting pool agreements, already control over 60 per cent of REpowers capital," Suzlon Chairman and Managing Director Tulsi Tanti said.
"In the next one week we will also know how many shareholders have finally tendered into our offer," he added.
"Suzlon Energy and Areva have signed a binding agreement governing a framework regarding both the firms shareholding in REpower. With this the bidding contest between Suzlon and Areva comes to an end," a statement quoting him said.
The bidding process for REpower started when Suzlon announced a competing public offer on February 9.
Read more in The Economic Times article.
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