Indian wind turbine manufacturer Suzlon Energy has acquired Belgium's EVE Holding NV for euro465 million in an all cash deal that gives it Hansen Transmissions International, one of the largest wind energy and industrial gearbox manufacturers in the world.
The Belgian deal, which is India’s second largest foreign corporate takeover, also gives Suzlon, through its subsidiary, AE – Rotor Holding BV based in Netherlands, access to subsidiaries in Britain, Australia, Brazil, the United States and South Africa.
The transaction is subject to regulatory approval.
Suzlon is acquiring the shares of EVE from private equity firms Allianz Capital Partners and its affiliates. Tulsi Tanti, chairman and managing director of Suzlon said, “The acquisition of Hansen gives us technological leadership and will make Suzlon a leading integrated wind turbine manufacturer.”