2024-11-05
http://w3.windfair.net/wind-energy/news/5409-repower-growth-financing-without-domination-and-profit-transfer-contract

News Release from Senvion GmbH

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Repower: Growth financing without domination and profit transfer contract

Hamburg, 27 October 2008. By ad hoc announcement dated 1 September 2008 REpower Systems AG ("REpower") has announced that its majority shareholder Suzlon has requested the management board of REpower to enter into negotiations regarding the execution of a domination and profit transfer agreement between REpower and SE Drive Technik GmbH, a member of the Suzlon Group.

REpower is in fairly advanced negotiations with a syndicate of banks regarding the financing of the company's further growth. The syndicate of banks makes it a condition precedent for the execution of the financing agreements that the parties refrain from entering into a domination and profit transfer agreement. Against this background and given the current financial market crisis, REpower and Suzlon have decided that they will no longer pursue the negotiations regarding a domination and profit transfer agreement if this growth financing is executed.
Source:
REpower Systems AG
Author:
Daniela Puttenat
Email:
info@repower.de
Link:
www.repower.de/...



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