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Suzlon Energy has lined up the funds required to increase its stake in the German wind power equipment manufacturer REpower Systems AG.
The company will be acquiring the combined 53 per cent stake held by two other shareholders, Areva and Martifer. "We have firmed up euro syndicated loans to fund the buyout because we need to transact in euro" said Tulsi R Tanti, chairman and managing director, Suzlon Energy. While the exact price at which the shares will be bought out is not known, Tanti indicated that it would be close to €150, the price at which Suzlon had picked up a 34 per cent stake in RePower in May 2007. Read the full article at Business Standard .
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