Brookfield Asset Management Inc. is planning an offer for a majority stake in India’s debt-laden Suzlon Energy Ltd., according to people familiar with the matter.
As part of the proposed deal, the Canadian company is in discussions with Suzlon’s creditors to restructure the outstanding bank loans of more than 110 billion rupees , under a so-called one-time settlement plan, the people said. Brookfield is demanding that the lenders led by State Bank of India take a haircut of as much as 50 per cent on the loans, they said.
Shares of Suzlon rose as much as 5.3 per cent in Wednesday afternoon trading. The stock has fallen 36 per cent in the past year.
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