Thursday November 19, 09:42 AM
UPDATE 1-Suzlon Energy to cut stake in Hansen Transmissions
* Placing represents 35 pct of Hansen's issued share capital
* Will not impact long-term supply arrangements
* Hansen shares fall 16 pct, Suzlon up 2.6 pct
(Adds details)
Nov 19 (Reuters) - Indian wind power company Suzlon Energy Ltd said it planned to cut its stake by 35 percent in Belgium's Hansen Transmissions through a secondary placing of about 235 million depository interests.
Suzlon, which currently holds 61.28 percent of the voting rights in Hansen through its unit AERH, said the placing would not impact the long-term supply arrangements which it had with Hansen.
Shares in London-listed wind turbine gearbox manufacturer Hansen fell 16 percent to 97 pence by 0926 GMT on Thursday on the London Stock Exchange (LSE: LSE.L - news) , while Suzlon, one of the world's largest makers of wind power systems, was trading up 2.6 percent at 75.20 rupees in a Mumbai market.
(Reporting by Purwa Naveen Raman in Bangalore; Editing by Aradhana Aravindan) Keywords: HANSEN/
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