March 23, 2015
Suzlon receives shareholders and CDR EG (Empowered Group) approval for Senvion sale and issue of upto 100 Crores equity shares on preferential basis
Mumbai, India: Suzlon Group announced that it has received approval of the company shareholders
for the following strategic initiatives as approved by the Board of Directors:
- Divestment of Senvion SE, Germany to Centrebridge Partners
- To issue upto 100 crores equity shares of the Company on preferential basis in terms of ICDR Regulations to certain persons / entities
- Sale of non-core asset namely SE Forge Limited
- To make investments, give loans, guarantees and provide securities beyond the prescribedlimits.
The shareholders approval process was conducted through a postal ballot and all the proposed
resolutions were approved by requisite majority.
Suzlon also received the approval from CDR EG (Empowered Group) for the sale of Senvion stake as
well as to issue upto 100 crores equity shares of the company on preferential basis.
Speaking on the occasion, Mr Tulsi R. Tanti, Chairman, Suzlon Group said: We thank our
shareholders and lenders for their confidence, trust and faith in the strategic vision of Suzlon. I am
confident the bold decisions taken in the recent past by the company will pave the way for Suzlons
resurgence. I wish to reiterate that these initiatives are in the interest of all stakeholders and aligned
to our endeavour of creating maximum shareholder value. We will capitalize on our technological
prowess, sustained market leadership of 18 years and best-in-class services to tap the immense
growth opportunities in our home market, USA and other emerging economies.