| Suzlon in $520mn Belgian buy |
| Our Regional Bureau / Mumbai March 17, 2006 |
| In the second largest overseas acquisition by an Indian company, Pune-based Suzlon Energy has acquired EVE Holdings, the holding company of Belgian wind turbine gearbox (WTG) major Hansen Transmissions, in an all-cash deal worth euro 430 million ($520 million). The largest overseas acquisition so far was Dr Reddy's takeover of Betapharm last month, for euro 480 million. The acquisition of Hansen through holding firm EVE, with an enterprise value of euro 465 million, is Suzlon's second overseas foray this week. It had announced yesterday a $60-million investment in a wind turbine-manufacturing unit in China. The company has also invested a similar amount in a US manufacturing plant having the same capacity. Both the plants are expected to be operational by July end, Suzlon Chairman Tulsi Tanti said. It also gives Suzlon control over the world |
