NEW DELHI, Dec 26 (Reuters) - India's cabinet has approved foreign investment in wind-turbine maker Suzlon Energy Ltd's now-suspended rights share issue.
Home Minister Palaniappan Chidambaram told a news conference after the cabinet meeting the investment had been approved.
Suzlon had proposed issuing rights shares up to 18 billion rupees ($360 million) to pay for an additional stake in Germany's REpower but said in October it was suspending the issue due to falling markets.
(Reporting by Rajkumar Ray; Editing by Charlotte Cooper) Keywords: SUZLON APPROVAL/ (prashant.mehra@thomsonreuters.com; +91 22 6636 9029; Reuters Messaging: prashant.mehra.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Home Minister Palaniappan Chidambaram told a news conference after the cabinet meeting the investment had been approved.
Suzlon had proposed issuing rights shares up to 18 billion rupees ($360 million) to pay for an additional stake in Germany's REpower but said in October it was suspending the issue due to falling markets.
(Reporting by Rajkumar Ray; Editing by Charlotte Cooper) Keywords: SUZLON APPROVAL/ (prashant.mehra@thomsonreuters.com; +91 22 6636 9029; Reuters Messaging: prashant.mehra.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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