Frankfurt - A takeover battle between Asia's biggest builder
of wind generators, Suzlon, and Areva, one of the world's top nuclear
technology companies, remains wide open, according to the chief
executive of REpower, the German company that both covet.
Fritz Vahrenholt said Wednesday at a news conference in Frankfurt:
'Both bidders are attractive from our point of view. Both could help
us grow.'
Areva posted the top bid of 140 euros per share, after Suzlon
offered 126 euros per share for REpower, which builds wind farms.
Vahrenholt said anything could happen, even an agreement between
Areva and Suzlon to share ownership.
'For us, it would be best if both could bring us their strengths,'
he added.
On Tuesday REpower's management and board commended the Areva bid
as best to shareholders. Areva of France has raised its stake beyond
30 per cent and must offer all outstanding shareholders the last
price it paid, 140 euros per share, under stockmarket rules.
Vahrenholt added that it would not be in REpower's interest for
the struggle to continue long term, adding that the business itself
did not particularly benefit from the huge sum being offered to
shareholders.
'Areva's attraction is that it is a big company with considerable
financial resources,' he said.
Martifer Group, a Portuguese company that owns 25 per cent of
REpower, has teamed with Suzlon for the rival bid. Vahrenholt said a
merger with Suzlon would secure access for REpower to scarce
components such as gearboxes and rotor blades.
REpower 2006 emerged from the red last year and is expected to
achieve sales this year of 650 million euros and next year of 900
million euros. Its earnings last year were 12.2 million euros,
Vahrenholt said.
© 2007 dpa - Deutsche Presse-Agentur 
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