Suzlon Energy is likely to dilute its stake in REpower by 40% to 50%. The company will dilute this stake through issuing IPO and the size of IPO will be $600-$750 million. The company will use this money to repay German banks and Indian lenders including SBI and IDBI.
Earlier on March 1, 2012, REpower Systems SE, had signed an agreement with a consortium of banks headed by BayernLB, Commerzbank Aktiengesellschaft and Deutsche Bank AG for a syndicated loan of EUR 750.0 million. The loan has a term of 2.5 years. In total, 13 German and international banks and credit insurance companies are participating in this loan.
REpower Systems SE, a wholly owned subsidiary of the Suzlon Group, is one of the world’s leading manufacturers of onshore and offshore wind turbines.
