Centerbridge buys Suzlon’s Sevion for €1bn

Centerbridge acquired the Indian turbine manufacturer's German subsidiary in an all-cash deal

Indian turbine manufacturer Suzlon has sold German subsidiary Sevion to private equity firm Centerbridge Partners in a €1 billion all-cash deal.

The sale – at a discount from the €1.4 billion Suzlon spent buying Sevion in 2007 – comes just two days after the Indian turbine manufacturer told the Mumbai stock exchange that a sale to Centerbridge was not a done deal and the company was still actively exploring a “number of options for its liability management”.

Centerbridge managing director Stefan Kowski believes “the global market environment for renewable energies is promising for a wind turbine manufacturer, particularly for one of the most experienced players in the industry with onshore and offshore capability”.

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