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Report: Suzlon finds new potential suitor

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Report: Suzlon finds new potential suitor

Troubled Indian wind turbine supplier Suzlon Energy Ltd. has found a new potential suitor, but cannot disclose the name due to a confidentiality agreement, Livemint reported Oct. 10.

Suzlon has been looking to reduce its debt after rescinding a US$1.2 billion payment offer to its lenders. In September, Vestas Wind Systems A/S reportedly backed out of a debt resolution plan.

Vestas' offer to acquire a controlling stake in the company was the only one left at that time after Brookfield Asset Management Inc. also walked out of talks in August.