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Wind turbine maker Suzlon Energy has further increased its stake in Germany based REpower Systems AG, with the acquisition of Martifer Group's 14.4 per cent stake in the company. With the conclusion of this transaction, Suzlon now holds approximately 90.72 per cent of shares and voting rights in REpower Systems.

 

Prior to this transaction, Portugal-based Martifer had held about 14.4 per cent stake in the Hamburg-based REpower Systems and Suzlon acquired it in a two-part payment plan. The purchase of Martifer's stake in REpower by Suzlon was agreed in February 2007 at the time of the joint bid by Suzlon and Martifer.

 

The Pune-headquartered firm had paid 65 million euro as the first tranche in December last year, hiking its stake in REpower to 73.1 per cent. This is final tranche of the 270 million euro that Suzlon had agreed to pay to buy Martifer’s 22.4 per cent stake in REpower Systems.

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