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Suzlon Energy gets investors permission to sell its German arm Senvion

The wind turbine maker Suzlon Energy said on Monday that it has received shareholders’ approval for the sale of its German arm Senvion and issue up to 100 crore equity shares on preferential basis.

“Suzlon receives shareholders and CDR EG (Corporate Debt Restructuring Empowered Group) approval for Senvion sale and issue of up to 100 crore equity shares on preferential basis,” the company said in a filing to the Bombay Stock Exchange (BSE).

The debt laden Suzlon earlier announced selling of its German subsidiary Senvion to US based Venture capital fund Centrebridge Partners for a minor loss, mainl for the purpose to cut debt.

In 2007, Suzlon had acquired Senvion for over Rs 7,300 crore.

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