Suzlon to buy Honiton Energy Holdings for USD 500 million
BS reported that Suzlon Energy is planning to buy Chinese wind energy company Honiton Energy Holdings. The acquisition will be concluded through Colossus Holdings, a Singapore based holding company of Suzlon and Bahrain based private equity company Arcapita Bank for over USD 500 million.
Suzlon Energy will own 26% of Honiton Energy and the rest will be funded by Arcapita. The partners will spend another USD 2 billion by 2012 to develop a 1,650 MW portfolio of wind farms in the Inner Mongolia region of China.
Acquisitions have been major drivers of growth for the Pune based Suzlon. In 2007, Suzlon outbid French energy major Areva to acquire 33.6% stake in German turbine maker REpower for USD 698 million. Recently, it further acquired Areva's stake in REpower.
Suzlon, now operating in over 20 countries with global headquarters in Amsterdam, drew international attention with the acquisition of Belgian gearbox manufacturer Hansen Transmission for USD 565 million in March 2006.
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