AE-Rotor Holding B.V., a wholly owned indirect subsidiary of Suzlon Energy Limited has announced that it has agreed on 31 December 2008 to sell 67,010,421 shares (10% equity) in Hansen Transmissions International NV to funds managed by Ecofin Limited, a London based specialised investment firm.
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Following completion of the acquisition, Ecofin will have a voting and economic interest in Hansen of approximately 11.62%. Ecofin has undertaken to Suzlon, subject to customary exceptions, not to dispose of the shares acquired from Suzlon until after 30 June 2009. The lock-up is renounceable in certain circumstances, as outlined below. Following this disposal, the Suzlon Group will retain a voting and economic interest in Hansen of approximately 61.28%.
