SEOB announces exit from the Brazilian market
Suzlon Energy Ltd (Company) announces the filing of voluntary liquidation of its Brazilian subsidiary Suzlon Energia Eólica do Brasil Ltda. (SEOB).
SEOB was established to manage business opportunities in Brazil in 2006.
SEOB has taken this decision after carefully considering all options and as a consequence of multiple factors that are unique to Brazil.
Commenting on the announcement, the company spokesperson said, “We believe that this is a responsible decision for the benefit of long-term sustainability of the Company and its shareholders.
The decision does not, in any way, alter Suzlon’s global operations strategy.