India’s biggest wind turbine maker Suzlon Energy is planning to divest either fully or partially its stake in its Belgian subsidiary Hansen Transmission International.

Mr Tulsi Tanti chairman of Suzlon Energy said that “We have appointed an independent director’s committee which is negotiating with potential buyers.”

Mr Tanti said that “REpower Systems has strong presence in the European market, so we have decided to keep the technology of REpower for European markets for now.”

Suzlon Energy in a filing to Bombay Stock Exchange said that its shareholders had approved the proposal, which entailed a fund raising plan of up to INR 5,000 crore through the issuance of securities, both in the domestic as well as in overseas markets. The shareholders had also given their nod to increase the ceiling limit on total FIIs’ holding to 49% from 24% in the company.

(Sourced from Business Standards)