- News reports emanating from various quarters today as well as in the past week seem to indicate that the embattled SUZLON ENERGY is on the verge of finalising a stake sale in its wholly owned subsidiary RE Power Systems SE. As most of us would be aware, RE Power is based in Hamburg and manufactures onshore and offshore wind turbines.
- Other reports indicate that , in fact, SUZLON may be considering a listing of RE Powers international ops or even RE Power itself.
- The main immediate issue before SUZLON is the repayment of its debt commitments, in particular the FCCBs redemption in June 2012 and October 2012 for which it needs approx Rs 3000 crores. Of this Rs 1500 crores is needed by June 2012.
- The Company is reported to have already garnered Rs 200 crores from it recent sale of some non core wind farm assets in TN. The Management, though refusing to comment on the stake sale news which hit the stands today morning, has said that it is confident of meeting its debt servicing commitments on time.
- This Blog, for the sake of all stakeholders, wishes the Company all the luck in its above endeavours.
READ EARLIER POSTS ON SUZLON HERE
Those who have invested in this company have only burnt their fingers.
ReplyDeleteWith the huge debt the company will not see the light of the day for years.
Better to liquidate the holding to limit further loss.