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Wind turbine manufacturer Suzlon subsidiary divests 35.22 % stake in Hansen

AE-Rotor Holding BV (AERH), a wholly owned indirect subsidiary of wind turbine group Suzlon Energy Ltd, has completed a secondary placing of 236,000,000 depository interests in Hansen Transmissions International NV, representing in aggregate 35.22% of the aggregate voting rights in Hansen.

The value of the placing is approximately £224 million (~USD 370 million) with £0.95 per depository interest

Following the Placing, Suzlon-subsidiary AERH continues to own in aggregate 174,632,079 depository interests in Hansen, representing 26.06% of the aggregate voting rights in the wind turbine gearbox supplier.

Speaking on the transaction, Tulsi R. Tanti, Chairman and Managing Director at Suzlon Energy, says: “Our acquisition of Hansen was guided by long-range strategic interests that we see being delivered today. Since the initial investment we have seen enormous value creation in Hansen, the company has expanded around the world, adding manufacturing capacity and jobs that will support the wind energy sector’s growth in the years to come.”

Sumant Sinha, COO at Suzlon Energy, adds: “At the Suzlon level, this marks another successful stage in our strategy. This transaction is an important step towards further optimising our debt profile. We have developed a good relationship with Hansen, hence securing our gearbox supplies for the long term. As the largest shareholder in the company we will continue to work towards creating even greater value.”

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Policy, investment and markets  •  Wind power