Brookfield eyes majority stake in Suzlon
MUMBAI: Brookfield Asset Management Inc. is planning an offer for a majority stake in India’s debt-laden Suzlon Energy Ltd, according to people familiar with the matter.
The Toronto-based investment firm is working with a financial adviser for due diligence on Suzlon, the people said, asking not to be identified as the details are private. Brookfield proposes to start with buying new shares issued by the company, followed by purchasing stocks from the existing holders under an open offer, the people said.
As part of the proposed deal, the Canadian company is in discussions with Suzlon’s creditors to restructure the outstanding bank loans of more than ₹11,000 crore ($1.6 billion), under a so-called one-time settlement plan, the people said.
