Suzlon receives shareholders approval for Senvion sale

 

The shareholders approval process was conducted through a postal ballot and all the proposed resolutions were approved by requisite majority.

 

 

Afterwards, Suzlon Group announced that it has received approval of the company shareholders for the following strategic initiatives as approved by the Board of Directors:

 

 

 

Suzlon also received the approval from CDR EG (Empowered Group) for the sale of Senvion stake as well as to issue upto 100 crores equity shares of the company on preferential basis.

 

Speaking on the occasion, Mr Tulsi R. Tanti, Chairman, Suzlon Group said: “We thank our shareholders and lenders for their confidence, trust and faith in the strategic vision of Suzlon. I am confident the bold decisions taken in the recent past by the company will pave the way for Suzlon’s resurgence. I wish to reiterate that these initiatives are in the interest of all stakeholders and aligned to our endeavour of creating maximum shareholder value. We will capitalize on our technological prowess, sustained market leadership of 18 years and best-in-class services to tap the immense growth opportunities in our home market, USA and other emerging economies."