Suzlon Set to Sell Senvion to Centerbridge for €1B
January 23, 2015
Centerbridge Partners has entered into a binding agreement to acquire Senvion, a wholly owned subsidiary of The Suzlon Group (NYSE: SUEL), for approximately €1 billion in cash and up to €50 million in future contingent payouts. Employing over 3,400, Senvion is an international manufacturer of both onshore and offshore wind turbines. The company also provides clients with project-specific solutions in areas such as wind farm engineering, foundation & transport, as well as installation, among others. The deal is expected to close by the end of this current financial year.