March 19, 2015
Suzlon receives shareholders approval for Senvion sale and issue of upto 100 Crores equity shares on preferential basis
- Approval for divestment in Senvion SE, Germany to CentreBridge Partners
- Issue of upto 100 crores equity shares on preferential basis to certain persons/entities approved
- Approval for sale of non-core asset namely SE Forge Limited
- Approval to make investments, give loans, guarantees and provide securities beyond the prescribed limits
Mumbai, India: Suzlon Group, today 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
- 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 prescribed limits.
The approval process was conducted through a postal ballot and the shareholders have approved all the
proposed resolutions by requisite majority.
Speaking on the occasion, Mr Tulsi R. Tanti, Chairman, Suzlon Group said: We thank our shareholders 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.