ZF Friedrichshafen AG announced a recommended cash offer for Hansen Transmissions International NV. The offer is 66 pence in cash for each Hansen share and values the entire issued and to be issued share capital of the company, including outstanding rights under the Hansen Warrant Plans, at approximately GBP444.8 million.
With the planned acquisition of Hansen, ZF will accelerate the development of its growing wind turbine gearbox business. The combination would provide an ideal geographical fit resulting in manufacturing capabilities in USA, Europe and Asia. The addition of Hansen’s business also expands the product portfolio to cover a broader range of wind turbine gearboxes. ZF has received irrevocable undertakings to accept the offer from Hansen’s two largest shareholders, Suzlon Energy and Ecofin, who hold approximately 38.4 per cent. of Hansen.
With the planned acquisition of Hansen, ZF will accelerate the development of its growing wind turbine gearbox business. The combination would provide an ideal geographical fit resulting in manufacturing capabilities in USA, Europe and Asia. The addition of Hansen’s business also expands the product portfolio to cover a broader range of wind turbine gearboxes. ZF has received irrevocable undertakings to accept the offer from Hansen’s two largest shareholders, Suzlon Energy and Ecofin, who hold approximately 38.4 per cent. of Hansen.
