News: 'Suzlon may raise bid for Repower'

(RTR 16/03/2007) Mumbai - Suzlon Energy Ltd. may raise its offer for wind turbine maker REpower to about 160 euros ($ 212.62) per share, which would value the German company at $ 1.7 billion, the Economic Times said on Friday.

French nuclear reactor maker Areva on Thursday offered 140 euros per share for REpower, raising its previous offer of 105 euros by a third, to top Suzlon's bid of 126 euros.

"The company is in talks with a consortium of banks led by ABN Amro and may come out with a revised offer of close to 160 euros per share," the paper said, quoting unnamed sources.

A Suzlon spokesman was unavailable for comment.

REpower shares rose 12.4 per cent to 148 euros on Thursday after Areva made its offer public. Areva now holds more than 30 per cent of the German wind turbine maker.

Suzlon chairman Tulsi Tanti told Reuters the company was reviewing the situation and would issue its response later.

Suzlon, the world's fifth-largest wind turbine maker, last month teamed up with Martifer, a unit of Portugal's largest builder, Mota Engil, to launch a bid for REpower. Martifer owns more than 25 per cent of REpower.