Suzlon to buy Belgian co for $565 M

By agencies   |   Friday, 17 March 2006, 08:00 Hrs
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PUNE: Pune based AsiaÂ’s largest manufacturer of wind turbine generator Suzlon Energy Ltd. today said its Netherlands based wholly owned subsidiary AE-Rotor Holding BV, will acquire Belgium-based EVE Holding NV for $565 million.

The board has approved a share purchase agreement between Suzlon, its subsidiary and EVE Holding and also given its nod for acquiring a 100 percent stake in the Belgian company.

Through this acquisition, Suzlon would get indirect 100 percent ownership of Belgium's Hansen Transmissions International NV, along with its subsidiaries in U.K., Australia, Brazil, U.S. and South Africa.

Hansen Transmissions is engaged in designing, developing, manufacturing and supplying industrial and wind turbine generator gearboxes.

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