Hansen Transmissions on the auction block
Speculation was sparked last week of a possible takeover of Hansen Transmissions of Kontich, after the Indian transmissions manufacturer Suzlon, which owns over 61% of the company, said it was "examining the possibilities". Hansen, which makes mainly industrial gearboxes for wind turbines and other applications, is quoted on the London stock exchange, and last week's price puts a value on the company of about €685 million.
The Economic Times of India reported that Suzlon has engaged a merchant bank to handle the sale. The same newspaper said four contenders for the sell-off have already had tentative discussions with Suzlon. The aim of the sale is to reduce some of Suzlon's €2.5 bn debt. The company also intends to place a bloc of shares worth about €300 million with an institutional investor.
One possible buyer could be the Danish wind turbine manufacturer Vestas, which is known to be scouting for acquisitions, and which has recently put together a war chest of €800 million for the purpose.