India's Suzlon makes final payment for REpower

MUMBAI, June 6 (Reuters) - Indian wind turbine maker Suzlon Energy (SUZL.BO) said on Saturday it has completed buying Martifier's (MARTI.LS) stake in Germany's REpower Systems (RPWGn.DE) for 87.6 million euros ($122 million).

In a notification to the Bombay Stock Exchange, Suzlon Energy, the world's fifth-biggest wind turbine maker, said after the completion of this two-part deal, it now holds 90.72 percent of shares and voting rights in REpower Systems.

"The completion of the purchase of Martifer's stake in REpower is a major milestone for Suzlon," Tulsi Tanti, chairman and managing director of Suzlon Energy, said in a statement.

The final tranche of shares, accounting for approximately 14.4 percent stake in REpower, was acquired in a two-part payment plan with a payment of 87.6 million euros on May 29 and an equivalent amount on June 5.

"We continue to pursue our long-term strategy for REpower and are committed to its growth and development," Tanti said.

This follows payments of the first tranche of 65 million euros in December 2008 and the second tranche of 30 million euros in April 2009.

Ahead of the announcement, shares in the wind turbine maker ended down 4.3 percent at 130.90 rupees in a Mumbai market that closed up 0.6 percent. (1 Euro = 66.86 rupees, 1 Euro = $1.397) (Reporting by Saikat Chatterjee; Editing by Sugita Katyal)