India's wind turbine maker Suzlon Energy is considering the sale of part or all of its stake in Belgian company Hansen Transmissions in a bid to repay part of its debt, The Economic Times reported on Monday, citing people close to the development.
AE-Rotor Holding B.V., a company directly controlled by Suzlon owns 61.28 percent in Hansen, according to the Belgian firm's Web site. At current prices, the stake is worth around $960 million.
The newspaper said the stake sale was in addition to Suzlon's plan to place around 20 billion rupees ($423 million) of its shares to a qualified institutional investor.
The two moves together would help reduce part of Suzlon's 120 billion rupees debt, it said.
A Suzlon spokesman, when contacted by Reuters, said the company would not comment on market speculation.
(Reporting by Ami Shah and Devidutta Tripathy; Editing by Saeed Azhar)