Suzlon sells Senvion to Centerbridge

 Wind turbine manufacturing major Suzlon has announced selling of its German subsidiary Senvion SE to Centerbridge Partners LP, USA.
The deal is valued at approximately ` 7,200 crores equity value in an all cash transaction and future earn out of upto an additional Rs 360 crores.
As per the deal, Senvion to give Suzlon license for off-shore technologies for the Indian market whereas Suzlon will give Senvion the S111-2.1 MW license for the USA market. 
“The 100 per cent stake sale of Senvion SE is in line with Suzlon‘s strategy to reduce the debt and focus on the home market and  high growth market like USA and emerging markets like China, Brazil, South Africa, Turkey and Mexico,” the company said.
 The transaction is expected to be closed before the end of the current financial year.

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