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Suzlon Energy in discussion to sell 49% stake in services arm: Report
Dec-10-2018

In a bid to raise funds to pare debt, Suzlon Energy is reportedly in discussion with two financial investors to sell up to 49% in its operations and maintenance subsidiary -- Suzlon Global Services. The company is looking for a valuation of Rs 8,000 crore for the services business.

The company is aiming to trim its debt by 30-40% by the end of 2018-19 through asset sale and other strategic initiatives. The immediate task at hand is to raise enough funds to meet an obligation of around Rs 1,200 crore on its foreign currency convertible bonds (FCCBs) that mature in July 2019.

Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 18 countries in Asia, Australia, Europe, Africa and North and South America.

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