Samstag, 10. Dezember 2016

  • Pressemitteilung BoxID 64011

REpower begins negotiations with majority shareholder on control and profit transfer agreement

(lifePR) (Hamburg, ) Tulsi R. Tanti, Chairman and Managing Director of the Indian Suzlon Group, has today submitted a request to the REpower Systems AG's (WKN 617703) Executive Board to begin negotiations on a control and profit transfer agreement with SE Drive Technik GmbH ("SEDT"), Bochum, Germany. SEDT is a subsidiary of the Suzlon Group which owns approx. 67.22% of the share capital of REpower Systems AG and about 89.7% of the voting rights.

A control and profit transfer agreement would result in the management of REpower Systems AG being assumed by the majority shareholder. In return, outside shareholders will receive an annual compensatory payment in accordance with Article 304 of the Aktiengesetz (AktG - German Stock Corporation Act). In addition to the compensation obligation in accordance with Article 304 of the AktG, a control agreement must contain the obligation that the controlling company will, if requested by an outside shareholder, purchase said shareholder's shares for an appropriate settlement, specified in the agreement (Article 305 of the AktG). A duly qualified auditor, appointed by the court, will report in writing on the appropriateness of any compensatory payment or settlement.

The validity of the control and profit transfer agreement, yet to be negotiated and concluded, will be subject to approval by the Supervisory Board and the Annual General Meeting as well as subject to entry in the commercial register.

Senvion SE

REpower Systems AG is one of the leading manufacturers of onshore and offshore wind turbines. The international engineering company develops, produces and sells wind turbines with outputs ranging from 2 to 5 megawatts and rotor diameters of 82 to 126 metres for almost all locations. It also provides a comprehensive service and maintenance range. The high performance, reliable turbines are designed at the REpower development centre in Rendsburg and produced at the sites in Husum (North Frisia) and Trampe(Brandenburg).

Listed on the stock exchange since March 2002 and with more than 1,300 employees worldwide, the Hamburg-based company relies on its experience in the production and installation of almost 2,000 wind turbines. REpower is represented in European markets such as France, the United Kingdom, Italy, Portugal and Spain and in the international markets of the US, Japan, China and Australia through its sales partners, subsidiaries and investments.

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