Suzlon and Martifer agree on REpower stake purchase schedule

Suzlon Energy Limited (SEL) and the Martifer Group of Portugal reported an agreement on a revised payment schedule for Martifer's 22.4 per cent stake in Repower.

As per the new terms, Suzlon will pay Martifer approximately € 65 million in December 2008, € 30 million in April, 2009, and final tranche of € 175 million in May 2009.? Upon completion of this transaction, Suzlon will reach ownership level of approximately 91% in REpower.