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HANSEN TRANSMISSIONS – Pity about all the uncertainty surrounding the Suzlon stake
Posted 21/04/09
The rumours continue that Suzlon Energy Ltd could sell more of its approx 61% stake in its European quoted subsidiary Hansen Transmissions International NV to raise funds.
With shares in Hansen currently trading at approximately 109p and well off their July 2008 highs (c323p!) and business apparently encouraging (relative to the climate that is!) the uncertainty surrounding principal shareholder Suzlon’s intentions detracts somewhat from the share’s appeal.
The group recently announced the delivery of the the first gearbox from its new facility at the Beichen Hi-tech Industrial park in Tianjin, China which was achieved only six months after the beginning of construction of the facility in September 2008.
Suzlon sold down a c10% stake at the beginning of 2009 to investment firm Ecofin Ltd which holds approximately 12% in Hansen.
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