Spain's top wind turbine manufacturer Gamesa is likely to pick up majority stake in Suzlon, reports CNBC-TV18 quoting sources.
It is learnt that the deal is likely to value Suzlon at market cap of around USD 3 billion while its current market cap is at around USD 2 billion.
Sources add that the deal will involve payment of non-compete fee to promoters. However, Suzlon has refused to comment stating that it is a market speculation.
Following the report, Suzlon rose more than 5% on the bourses.
Conceived in 1995 with just 20 people, Suzlon is a leading wind power company with over 16,000 people in 25 countries across Americas, Asia, Australia and Europe.
It is learnt that the deal is likely to value Suzlon at market cap of around USD 3 billion while its current market cap is at around USD 2 billion.
Sources add that the deal will involve payment of non-compete fee to promoters. However, Suzlon has refused to comment stating that it is a market speculation.
Following the report, Suzlon rose more than 5% on the bourses.
Conceived in 1995 with just 20 people, Suzlon is a leading wind power company with over 16,000 people in 25 countries across Americas, Asia, Australia and Europe.
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