Suzlon Energy to merge tower biz, infra verticals with itself

NEW DELHI: Wind energy major Suzlon Energy on Monday said it would merge its infrastructure and tower business divisions with itself.

The Board of Directors of Suzlon Energy Ltd has approved the acquisition of the 'Tower Business Division' of Suzlon Towers and Structures Ltd and 'Operations and Maintenance Division' of Suzlon Infrastructure Services Ltd, the company informed the Bombay Stock Exchange.

"Both are wholly owned subsidiaries of Suzlon and the merger would be done subject to receipt of all statutory and regulatory approvals," the statement added.

Shares of Suzlon Energy closed at Rs 52.25, up 1.06 per cent on the BSE.