The controlling shareholder of Indian wind turbine maker Suzlon Energy said there is “no question” of exiting the company, after media reports on Tuesday said a rival was looking to buy a controlling stake.
“There is no question of the Tanti family walking away from our great company,” Suzlon Chairman Tulsi Tanti wrote in an internal memo to senior staff late on Tuesday that was obtained by Reuters.
Tanti’s family owns roughly 58 percent of Suzlon, which has been the subject of occasional reports of a possible sale.
On Tuesday, shares in the company rose as much as 5.6 percent after TV reports of a possible sale to Spain’s Gamesa. Suzlon said on Tuesday the reports were “speculative in nature and inaccurate”.