January 22, 2015 / 3:32 AM / 3 years ago

India's Suzlon agrees to sell German unit for 1 bln euros

MUMBAI, Jan 22 (Reuters) - Indian wind turbine manufacturer Suzlon has agreed to sell its German unit Senvion SE to Centerbridge Partners LP for 1 billion euros (72 billion rupees) in an all-cash deal, it said on Thursday.

The companies have signed a binding agreement, which also has a future earn out clause of an additional 50 million euros, they said in a statement.

Suzlon, which has been under pressure in the last few years from a slowdown in global turbine sales and its debt pile, had to restructure $1.8 billion debt after defaulting on a $200 million convertible bond redemption in 2012. (Reporting by Devidutta Tripathy; Editing by Clara Ferreira Marques)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below