Suzlon Energy and Martifer are yet to arrive at an agreement over the payment schedule regarding the early purchase of the latter’s 22.4 per cent stake in REPower Systems AG.
“Suzlon and Martifer entered into an agreement in August this year to complete an early purchase of Martifer stake of 22.4 percent in REpower Systems AG in mid-December 2008, which was initially due in May 2009. The payment of the purchase price in May 2009 is secured by an International Bank Guarantee. Both Suzlon and Martifer are currently in discussions to arrive at a mutually acceptable payment Schedule,” a company release said.
