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Last Updated : Sep 09, 2019 02:19 PM IST | Source: Moneycontrol.com

Banks look at debt recast plan for Suzlon: Report

Two international companies had reportedly expressed interest in acquiring a stake in Suzlon Energy, but a deal did not materialise.

 
 
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Loss-making Suzlon Energy's lenders may be forced to take a haircut on loans due to lack of active interest from potential buyers, according to a report in The Economic Times.

Two international companies had expressed interest in acquiring a stake in the wind turbine maker but a deal did not materialise, the report said.

Moneycontrol could not independently verify the report.

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A settlement plan backed by Danish firm Vestas Wind Systems fell through, according to a Bloomberg report.

Canadian investor Brookefield had also considered purchasing a majority stake but the talks failed due to differences over valuation.

Not all bankers are in favour of the proposed restructuring, sources told the publication. Even after the haircut, Suzlon Energy might not be able to repay the loans immediately.

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First Published on Sep 9, 2019 02:07 pm
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