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India's Suzlon to sell 75 pct of China unit for $28 mln

Source : REUTERS
Last Updated: Wed, Sep 18, 2013 12:50 hrs

Sept 18 (Reuters) - Indian wind turbine maker Suzlon Energy Ltd has agreed to sell a 75 percent stake in its China manufacturing unit to Poly LongMa Energy (Dalian) Ltd for $28 million.

Suzlon said in a statement on Wednesday it would retain the remainder 25 percent in Suzlon Energy Tianjin Ltd and operate in a joint venture with Poly LongMa.

Suzlon, whose units include REpower Systems SE, is the world's fifth-largest wind turbine maker. (Reporting by Devidutta Tripathy in New Delhi; Editing by Prateek Chatterjee)




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