Financial difficulties

Shot in the arm for Suzlon

Sascha Rentzing/Tim Altegör, 13 Mar 15
Capital injection for India’s heavily indebted turbine manufacturer Suzlon: Indian billionaire gives EUR 250 million.

Indian billionaire Dilip Shanghvi has come to the rescue of India’s heavily indebted turbine manufacturer Suzlon with a capital injection of around EUR 250 million. The deal will give Shanghvi, who is the founder of Sun Pharmaceutical Industries, a 23 percent share in Suzlon, while the family of company boss Tulsi Tanti holds 24 percent. In late January, Suzlon sold turbine manufacturer Senvion to British private equity investor Centerbridge Partners for EUR 1.05 billion. It had acquired the company, then called Repower, for EUR 1.3 billion in 2007

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