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Report: Brookfield scraps plan to buy majority stake in India's Suzlon

Canadian asset manager Brookfield Asset Management Inc. has walked out of talks to potentially buy a majority interest in Suzlon Energy Ltd. after a disagreement with the Indian wind turbine supplier's lenders on valuation, The Economic Times of India reported Aug. 7.

Brookfield, which had been in talks with Suzlon's creditors to restructure more than $1.6 billion of its outstanding bank loans, sought a 60% to 70% haircut on the troubled company's debt, the publication reported, citing two sources familiar with the matter. The lenders, however, did not accept Brookfield's demand.

The lenders are now said to be in talks with Suzlon on other resolution plans, according to the report.