Suzlon ups bid for REpower to Euro 150 per share

New Delhi, Apr 10: Wind power major Suzlon Energy has today raised its offer price to acquire Germany's REpower Systems AG, to Euro 150 per share, topping competitor Areva's bid of Euro 140 a share.

The company earlier placed a bid of Euro 126 a scrip for the German company. The new offer values the German firm at 1.65 billion dollars.

Suzlon said its subsidiary has acquired 7.7 per cent in REpower at up to 150 euros per share, .

The company is bidding in consortium with Martifer SGPS, SA, Oliveira de Frades of Portugal, which holds a 25.4 per cent stake in REpower.

Both Martifer and Areva are major shareholders of REpower with Areva owning over 30 per cent.

UNI