Suzlon to acquire Belgium's Hansen Group
By Our Corporate Bureau | 17 Mar 2006
Suzlon Energy Ltd's has signed a share purchase agreement with Allianz Capital Partners GMBH, and Apax Partners Worldwide LLP, to acqiuire the entire ownership of Belgium's EVE Holdings NV for €465 ($565 million) that will allow Suzlon to indirectly own Hansen Transmissions International NV, Belgium.
The transaction was executed throough Suzlon's wholly owned subsidiary in The Netherlands, AE-Rotor Holding BV.
By virtue of the acquisition of EVE Holding by AE-Rotor, Suzlon will gain indirect 100 per cent ownership of Hansen Transmissions International NVBelgium, which designs, develops, manufactures and supplies industrial and wind turbine generator gear boxes.
The complete ownership of Hansen Transmissions would enable Suzlon to own Hanson's UK, Australian, Brazilian, the US and South African subsidiaries.
Suzlon provided the corporate guarantee to collaterally secure financial backing worth €450 million inclusive of interest, commission, charges, from various lenders for AE-Rotor for the acquisition.
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