Press Release
Publisher: REpower Systems AG
Reasoned opinion of REpower Systems AG: Support of increased takeover offer of Suzlon - Waiver of minimum acceptance conditions of AREVA
Hamburg, 17 April 2007. Supervisory board and management board of REpower Systems AG (WKN 617703) have published their joint reasoned opinion concerning the increased takeover offer of Suzlon Windenergie GmbH which had been submitted to REpower on 10 April and the alteration of the AREVA offer from today.
As stated several times before, Suzlon as well as AREVA is an appropriate strategic partner for the accelerated growth in the international wind energy industry. Thus, supervisory board and management board both approve the offer of Suzlon which provides a takeover price of EUR 150.00 per share, as the offer is EUR 10.00 higher than AREVA’s competing offer of EUR 140.00 per share.
Referring to the current share capital which has added up to EUR 8,928,176.00 since the concluded capital increase last week, the offer equals to a valuation of the company of about EUR 1.34 billion.
Furthermore, the supervisory board and management board approve AREVA’s waiver of the minimum acceptance conditions of more than 50 per cent, because thereby the transaction safety and comparability of both offers will be increased for the shareholders.
As this formal alteration happened within the last two weeks before the expiration of the offer deadline for the submission of quotations, the term of acceptance for both offers was extended to Friday, the 4th of May 2007, 12.00 a.m.
The complete reasoned opinion is available on the internet website under the address http://www.repower.de (quick link „information about the takeover offers of AREVA and Suzlon“)
About REpower:
REpower Systems AG is one of the leading manufacturers of onshore and offshore wind turbines. The international engineering company develops, produces and sells wind turbines with outputs ranging from 1.5 to 5 megawatts and rotor diameters of 70 to 126 metres for almost all locations. It also provides a comprehensive service and maintenance range. The high performance, reliable turbines are designed at the REpower development centre in Rendsburg and produced at the sites in Husum (North Frisia) and Trampe (Brandenburg).
Listed on the stock exchange since March 2002 and with around 880 employees worldwide, the Hamburgbased company relies on its experience in the production and installation of more than 1,500 wind turbines worldwide. REpower is represented in European markets such as France, the United Kingdom, Italy, Portugal and Spain and in the international markets of Japan, China and Australia through its sales partners, subsidiaries and investments.
Hamburg, 17 April 2007
Publication and Reproduction permitted; please send a specimen copy to
REpower Systems AG.
Attention editorial offices: For further questions please contact:
REpower Systems AG
Daniela Puttenat Corporate Communications & Public Relations
Phone:+49 - 40 -53 93 07 -14
Fax.: +49 - 40 - 53 93 07- 37
E-mail: d.puttenat@repower.de>d.puttenat@repower.de
Thomas Schnorrenberg
Investor Relations
Phone:+49 -40 - 53 93 07 - 23
Fax.: +49 - 40 - 53 93 07- 77
E-mail: t.schnorrenberg@repower.de>t.schnorrenberg@repower.de
Internet: http://www.repower.de
Online press kit - all press releases from REpower Systems AG
Press photos for editorial use only
Note: For the content of this press release the issuer / publisher of the release is »REpower Systems AG« responsible.
The press release "Reasoned opinion of REpower Systems AG: Support of increased takeover offer of Suzlon - Waiver of minimum acceptance conditions of AREVA" von REpower Systems AG is also available in the following languages:
-
Stellungnahme der REpower Systems AG: Unterstützung des erhöhten Übernahmeangebots von Suzlon - Verzicht auf Mindestannahmebedingung durch AREVA
-
-
Malheureusement cette information de presse n'est pas disponible en version française.
