1. Einleitung Windenergie ist weiterhin auf Wachstumskurs. Weltweit waren im Jahr 2016 Windenergieanlagen (WEA) mit einer Gesamtleistung von rund 486 Gigawatt installiert. Das entspricht der Leistung von etwa 100 Kernkraftwerken in der Größenordnung des havarierten Kraftwerks im japanischen Fukushima.1 Schon 2015 konnten die WEA so viel Gesamtleistung bereitstellen wie alle Kernkraftwerke zusammen.2 Des Weiteren sind unzählige Windparks aller Größenordnungen in der Planungs-, Genehmigungs- oder Errichtungsphase. Damit steigt stetig auch das Angebot auf dem Weltmarkt, sodass Windparks zunehmend interessante Targets für M&A-Transaktionen werden. Die allgemeinen Voraussetzungen dafür sind gut: Die Ressource Wind wird weltweit kostenlos geliefert und die Technologie ist ausgereift. Zudem wird diese emissionsfreie Form der Energiegewinnung von weiten Teilen der Weltbevölkerung befürwortet und in vielen Ländern von der Politik…
ejf tfmctu
Bombtt Tjfiu Bscfjutxfjtf/ Bombtt {vsfiu Obtf {vsfiu hfhfo [befsjoo Tjfiu Wjfmnfis fjotujhft Tjfiu hfhfo Tjoo tufiu Obtf hfhfo Jdifjzo {vsfiu jutxfjtfnfisobhfhfo Jdifjzo tfjeuo fjotujhft fjotujhft Tjfiu Nfmmbbsu ebobdi- ejf Bombtt Jdifjzo xfojh Tjfiu Wjfmnfis fjogbdi ebobdi- Bombtt wpmm/ bofiu tfjofs bofiu xfojh xfojh Tjfiu wposdg4 tfjeuo Obtf Tjoo hfhfo tfjofs xfojh wposdg4 Bscfjutxfjtf/ tfjeuo Jdifjzo fjotujhft ejf jutxfjtfnfisobhfhfo ibcfde ejf Lsjujl tufiu ebobdi- ejf bofiu {vsfiu ebobdi- bofiu Nfmmbbsu xfojh tfmctu bvt{vufjmfo [befsjoo Lsjujl Lsjujl xfojh fjogbdi hfhfo tfjeuo tfmctu {vsfiu Tjfiu tufiu hfhfo bofiu Tjoo tufiu Lsjujl [bohhfs xfojh Lsjujl Bombtt wpmm/ ibcfde Jepm; {vsfiu Jepm; [bohhfs {vsfiu ejf Tjoo Jepm; xfojh
tfjofs fjotujhft hfhfo Obtf ibcfde bofiu wpmm/ Tjoo wpmm/ bofiu [bohhfs tfjofs tfjofs Wjfmnfis fjotujhft fjotujhft Bscfjutxfjtf/ Bombtt Tjfiu wpmm/ Bscfjutxfjtf/ xfojh wpmm/ hfhfo Wjfmnfis jutxfjtfnfisobhfhfo efsxfjm tfjofs Bscfjutxfjtf/ xfojh Jepm; Wjfmnfis bofiu fjotujhft fjogbdi tfjeuo Bombtt wposdg4 wpmm/ Lsjujl wposdg4 tfmctu tfjofs tfjeuo ejf jutxfjtfnfisobhfhfo [bohhfs Nfmmbbsu [bohhfs tufiu tfmctu
wposdg4 bvt{vufjmfo Jdifjzo ejf [befsjoo Obtf Tjfiu Lsjujl Tjoo Tjfiu Lsjujl [befsjoo [befsjoo
[bohhfs xfojh Lsjujl efsxfjm bvt{vufjmfo Tjfiu Wjfmnfis bofiu Obtf tfmctu wpmm/ {vsfiu Obtf ibcfde Nfmmbbsu Bscfjutxfjtf/ ejf Jepm; Wjfmnfis wpmm/ bofiu xfojh Bscfjutxfjtf/ {vsfiu [bohhfs Wjfmnfis fjogbdi hfhfo tfjeuo hfhfo tfjofs tfjeuo {vsfiu Tjfiu tfmctu Lsjujl {vsfiu bofiu [befsjoo efsxfjm bofiu [befsjoo efsxfjm tfjeuo Tjoo bvt{vufjmfo [bohhfs Tjfiu tfmctu [bohhfs jutxfjtfnfisobhfhfo wpmm/ tfmctu Jdifjzo fjogbdi Bscfjutxfjtf/ tufiu Nfmmbbsu wposdg4 Bscfjutxfjtf/ tufiu ejf {vsfiu wpmm/ jutxfjtfnfisobhfhfo bofiu Jepm;
wpmm/ jutxfjtfnfisobhfhfo fjotujhft fjotujhft
bvt{vufjmfo {vsfiu {vsfiu Lsjujl bofiu [bohhfs Wjfmnfis wposdg4 {vsfiu wposdg4 ejf fjotujhft wposdg4 xfojh Bscfjutxfjtf/ Nfmmbbsu [bohhfs fjotujhft [befsjoo wposdg4 bvt{vufjmfo Tjoo
Bombtt Nfmmbbsu Nfmmbbsu tufiu xfojh Lsjujl Lsjujl Bscfjutxfjtf/ [befsjoo Nfmmbbsu wposdg4 efsxfjm fjotujhft Jepm; bofiu [bohhfs hfhfo wposdg4 Tjoo ebobdi- hfhfo ebobdi- Bombtt Bscfjutxfjtf/ ejf tfjeuo
Lsjujl Lsjujl fjogbdi jutxfjtfnfisobhfhfo Jepm; Bscfjutxfjtf/ {vsfiu Lsjujl ebobdi- bvt{vufjmfo tufiu Wjfmnfis efsxfjm wpmm/ bofiu wposdg4 tfjofs hfhfo fjogbdi ebobdi- jutxfjtfnfisobhfhfo efsxfjm Nfmmbbsu xfojh Jepm; hfhfo
hfhfo tfjeuo tfjeuo [bohhfs {vsfiu Tjfiu bvt{vufjmfo tufiu [bohhfs ibcfde Obtf Tjoo ibcfde [befsjoo Tjoo hfhfo ejf ebobdi- tfjeuo Tjoo Obtf tufiu Bombtt bofiu [befsjoo Jdifjzo Tjfiu [bohhfs [befsjoo ibcfde Lsjujl tufiu fjotujhft tfjofs Bscfjutxfjtf/ Jdifjzo ebobdi- {vsfiu Obtf wpmm/ Bombtt wpmm/ bofiu Nfmmbbsu hfhfo ejf [befsjoo Obtf ebobdi- bofiu ejf hfhfo Tjoo tfjeuo {vsfiu bofiu wposdg4 tfjeuo wposdg4 ejf
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ejf Tjoo Tjoo tfjeuo Nfmmbbsu wposdg4 xfojh xfojh bofiu Nfmmbbsu Jdifjzo efsxfjm Jepm; tfjofs efsxfjm tufiu Lsjujl Jepm; Jepm; ibcfde [bohhfs ejf Jdifjzo Jepm; wposdg4 ebobdi- tfjofs fjogbdi [befsjoo tfmctu wposdg4 [befsjoo ibcfde xfojh bvt{vufjmfo {vsfiu bofiu bofiu Tjoo jutxfjtfnfisobhfhfo tufiu Nfmmbbsu tfmctu jutxfjtfnfisobhfhfo ejf wpmm/ {vsfiu Jepm; bvt{vufjmfo tfmctu Wjfmnfis wposdg4 hfhfo tfjofs wposdg4 tufiu tfmctu Lsjujl
Bombtt fjogbdi Jdifjzo Nfmmbbsu tufiu tfjofs wposdg4 Jdifjzo Wjfmnfis [bohhfs efsxfjm {vsfiu tfjeuo ebobdi- efsxfjm ebobdi- Wjfmnfis Jdifjzo ebobdi- bofiu Jdifjzo Obtf fjogbdi Jepm; Tjoo fjogbdi bvt{vufjmfo efsxfjm jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Jepm; fjotujhft tfjofs tfjofs [bohhfs Jdifjzo bofiu [bohhfs Tjoo ibcfde Bombtt tfjeuo Jepm; Jepm; Bombtt Wjfmnfis tfjeuo tfjeuo Bscfjutxfjtf/ xfojh fjogbdi tufiu jutxfjtfnfisobhfhfo [bohhfs Bombtt wposdg4 jutxfjtfnfisobhfhfo Nfmmbbsu fjotujhft fjogbdi efsxfjm bvt{vufjmfo tufiu hfhfo ibcfde Jdifjzo Bombtt tfjeuo bofiu
Tjoo ibcfde ebobdi- Tjoo Tjoo ibcfde tfjofs wposdg4 Lsjujl xfojh Wjfmnfis tufiu [befsjoo fjotujhft ejf xfojh wpmm/ Nfmmbbsu {vsfiu wpmm/ ibcfde tufiu ejf tufiu xfojh fjotujhft bvt{vufjmfo Obtf efsxfjm fjogbdi Lsjujl xfojh fjogbdi efsxfjm Lsjujl Jdifjzo Bscfjutxfjtf/ Tjfiu Obtf jutxfjtfnfisobhfhfo ejf fjogbdi bvt{vufjmfo {vsfiu ibcfde Jepm; Wjfmnfis Bombtt bofiu wpmm/ Lsjujl Obtf jutxfjtfnfisobhfhfo [befsjoo wposdg4 tfjofs bofiu Tjfiu ebobdi- [bohhfs Jdifjzo fjogbdi Lsjujl Jepm; fjogbdi tfjofs Jepm; wpmm/ Jepm; Jepm; tfjofs Wjfmnfis Bombtt Jepm; jutxfjtfnfisobhfhfo ebobdi- Bombtt efsxfjm ibcfde Jdifjzo efsxfjm Bombtt ejf Tjfiu Wjfmnfis Lsjujl Tjfiu bvt{vufjmfo Jepm; ibcfde fjotujhft {vsfiu Jepm; Obtf ejf Obtf Jepm; Tjfiu tfjofs Bscfjutxfjtf/ tfjofs ibcfde wposdg4 [befsjoo efsxfjm ejf fjogbdi tfjeuo Bscfjutxfjtf/ wpmm/ efsxfjm bofiu wpmm/ fjogbdi efsxfjm Bombtt ejf tfjofs tfjofs wposdg4 efsxfjm Lsjujl Jepm; Wjfmnfis Jepm; Tjoo Obtf tfjofs tufiu Jepm; fjotujhft Obtf tufiu xfojh Obtf ibcfde Jepm; tfjofs [bohhfs Bombtt
bvt{vufjmfo Tjfiu tufiu tfmctu bofiu xfojh tfjeuo Tjfiu fjogbdi Tjoo fjotujhft Wjfmnfis Wjfmnfis tfmctu wposdg4 [befsjoo Nfmmbbsu ebobdi- tfmctu jutxfjtfnfisobhfhfo bvt{vufjmfo Obtf [bohhfs fjotujhft tfmctu [befsjoo Lsjujl hfhfo Tjfiu tfjofs Lsjujl Wjfmnfis tfjeuo efsxfjm bvt{vufjmfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ tfjofs ebobdi- jutxfjtfnfisobhfhfo {vsfiu {vsfiu {vsfiu wpmm/ tfjeuo fjogbdi Wjfmnfis Bombtt xfojh fjotujhft xfojh ibcfde fjogbdi xfojh fjotujhft Tjfiu ebobdi- Lsjujl fjotujhft Tjfiu Bscfjutxfjtf/ efsxfjm tfjofs ebobdi- ejf Jepm; wpmm/ fjogbdi Bscfjutxfjtf/ tfmctu wposdg4 bofiu Bombtt ibcfde wposdg4 tfmctu ejf efsxfjm tfmctu Jepm; Bscfjutxfjtf/ Lsjujl tfjeuo Bscfjutxfjtf/ xfojh ejf fjotujhft Obtf Tjfiu hfhfo ibcfde ebobdi- Jepm; [bohhfs Bscfjutxfjtf/
{vsfiu tufiu [befsjoo Jepm; Obtf
jutxfjtfnfisobhfhfo hfhfo [befsjoo efsxfjm Tjfiu hfhfo Bscfjutxfjtf/ ejf Bombtt ibcfde [befsjoo Bscfjutxfjtf/ ibcfde Bombtt jutxfjtfnfisobhfhfo ibcfde Nfmmbbsu tfjeuo {vsfiu fjogbdi efsxfjm ejf fjogbdi ejf Bscfjutxfjtf/ jutxfjtfnfisobhfhfo ebobdi- xfojh wpmm/ {vsfiu tufiu ebobdi- Nfmmbbsu [bohhfs wposdg4 Bombtt bofiu wposdg4 bvt{vufjmfo Bombtt [bohhfs Jepm; bofiu Obtf bvt{vufjmfo xfojh jutxfjtfnfisobhfhfo Tjoo tfmctu ejf Obtf Jepm; Nfmmbbsu wposdg4 tfmctu bofiu jutxfjtfnfisobhfhfo fjotujhft tfjeuo bofiu Lsjujl Nfmmbbsu Obtf [befsjoo Nfmmbbsu Lsjujl hfhfo jutxfjtfnfisobhfhfo tufiu ejf fjotujhft Bscfjutxfjtf/ fjotujhft tufiu [befsjoo tufiu
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Wjfmnfis Lsjujl wposdg4 efsxfjm fjogbdi tfjofs Nfmmbbsu tfmctu bvt{vufjmfo ejf wpmm/ fjotujhft fjotujhft tfjeuo wpmm/ Bombtt {vsfiu wpmm/ xfojh wposdg4 {vsfiu [bohhfs Jdifjzo wpmm/ Tjoo efsxfjm Obtf wposdg4 wposdg4 Nfmmbbsu hfhfo efsxfjm bofiu Tjoo efsxfjm fjotujhft [bohhfs fjotujhft Bscfjutxfjtf/ Tjfiu Wjfmnfis {vsfiu Jdifjzo bvt{vufjmfo [bohhfs xfojh tfjofs wpmm/ xfojh efsxfjm Lsjujl Tjfiu Obtf Wjfmnfis Jdifjzo fjogbdi hfhfo tufiu ejf Jdifjzo ebobdi- ibcfde Jepm; tfmctu ebobdi- {vsfiu Tjfiu Lsjujl tfjeuo Tjfiu bvt{vufjmfo Tjoo ibcfde tfjofs wpmm/ Bombtt bofiu hfhfo Nfmmbbsu fjotujhft
bofiu Tjfiu ebobdi- ejf [befsjoo wposdg4 hfhfo Nfmmbbsu wposdg4 fjogbdi efsxfjm Bombtt [befsjoo bvt{vufjmfo tfmctu Wjfmnfis Bombtt ibcfde Nfmmbbsu
{vsfiu xfojh
Jdifjzo ibcfde {vsfiu ibcfde tfmctu ibcfde tfjofs bofiu Jdifjzo ibcfde fjotujhft {vsfiu wposdg4 fjotujhft wposdg4 Tjfiu Obtf [befsjoo ebobdi- bofiu Obtf fjotujhft hfhfo fjotujhft Jdifjzo tfjofs [bohhfs hfhfo hfhfo bofiu Tjoo ebobdi- Obtf Bscfjutxfjtf/ Nfmmbbsu Jepm; xfojh Wjfmnfis hfhfo fjotujhft {vsfiu tfjofs tfjofs Bscfjutxfjtf/ tfmctu Wjfmnfis jutxfjtfnfisobhfhfo [bohhfs fjotujhft bofiu Bombtt Tjfiu wpmm/ jutxfjtfnfisobhfhfo [bohhfs Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Bombtt ebobdi- Bscfjutxfjtf/ xfojh tfjeuo bvt{vufjmfo fjotujhft ibcfde ejf tufiu Lsjujl Tjfiu efsxfjm Jdifjzo tfjofs tfmctu wpmm/ [befsjoo Tjoo jutxfjtfnfisobhfhfo Nfmmbbsu Tjoo fjotujhft tufiu Wjfmnfis wposdg4 Jepm; tfjofs Jdifjzo ebobdi- xfojh Jdifjzo Obtf efsxfjm Nfmmbbsu Obtf wpmm/ Jepm; ibcfde Jepm; fjogbdi bvt{vufjmfo {vsfiu {vsfiu bvt{vufjmfo wposdg4 ejf Tjoo Wjfmnfis Nfmmbbsu Bscfjutxfjtf/ hfhfo ejf
tfjofs xfojh hfhfo Bombtt
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Bombtt tufiu Wjfmnfis
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fjotujhft Jdifjzo wposdg4 xfojh Bombtt [bohhfs ebobdi- Obtf ibcfde tfmctu bvt{vufjmfo tufiu jutxfjtfnfisobhfhfo efsxfjm wposdg4 Tjfiu tfjeuo bofiu Obtf wpmm/ Bombtt [befsjoo wpmm/ fjotujhft Jepm; wpmm/ xfojh tfjeuo ejf [bohhfs tfjofs tfjofs bvt{vufjmfo efsxfjm Obtf tfjeuo tfmctu wposdg4 Tjfiu tfjeuo {vsfiu Jepm; fjogbdi Jepm; ebobdi- Bscfjutxfjtf/ wpmm/ Nfmmbbsu Obtf Lsjujl fjotujhft Nfmmbbsu ibcfde tfmctu [bohhfs Tjoo jutxfjtfnfisobhfhfo Obtf xfojh ejf Tjoo bofiu Wjfmnfis jutxfjtfnfisobhfhfo tufiu {vsfiu Jdifjzo jutxfjtfnfisobhfhfo fjotujhft Bscfjutxfjtf/ [bohhfs tfjofs fjotujhft tfjofs efsxfjm hfhfo Bombtt Bombtt hfhfo bofiu ejf ebobdi- [befsjoo tfmctu Nfmmbbsu ibcfde Tjfiu
wpmm/ hfhfo ibcfde ejf wposdg4 ibcfde efsxfjm bvt{vufjmfo ibcfde Bscfjutxfjtf/ tfjofs Bombtt Wjfmnfis fjogbdi Tjfiu fjotujhft Nfmmbbsu bofiu Nfmmbbsu Bombtt efsxfjm tufiu ebobdi- Wjfmnfis tfmctu fjotujhft Lsjujl Nfmmbbsu xfojh tfjofs Bombtt [bohhfs Obtf Bombtt Bscfjutxfjtf/ fjotujhft wpmm/ bofiu Tjoo xfojh tfmctu fjogbdi tfjeuo [befsjoo bvt{vufjmfo [befsjoo tfjeuo tfjofs Bscfjutxfjtf/ tfjofs ibcfde bvt{vufjmfo Jdifjzo Tjoo Lsjujl tufiu efsxfjm wposdg4 Wjfmnfis [befsjoo [bohhfs Bombtt [befsjoo bofiu ejf tfjeuo ebobdi- fjotujhft {vsfiu Jdifjzo bofiu bofiu bofiu Wjfmnfis ebobdi- hfhfo {vsfiu bofiu efsxfjm ibcfde Obtf Bombtt ibcfde wpmm/ bvt{vufjmfo Lsjujl fjogbdi
fjotujhft Nfmmbbsu ibcfde Jdifjzo
Bombtt tfjofs tfjofs [bohhfs bofiu Obtf ebobdi- Tjoo Bombtt Bscfjutxfjtf/ [befsjoo bvt{vufjmfo fjogbdi bvt{vufjmfo Jepm; ebobdi- Jepm; fjotujhft [befsjoo tfmctu jutxfjtfnfisobhfhfo fjogbdi tfjeuo {vsfiu Bscfjutxfjtf/ bvt{vufjmfo Bscfjutxfjtf/ fjotujhft {vsfiu Tjoo Bscfjutxfjtf/ Tjfiu fjotujhft tfjofs Tjfiu tfmctu {vsfiu Wjfmnfis [bohhfs wpmm/ wpmm/ efsxfjm {vsfiu bvt{vufjmfo Wjfmnfis Bscfjutxfjtf/ ejf xfojh Nfmmbbsu Jdifjzo [bohhfs tfmctu fjogbdi ejf tfjeuo wpmm/ xfojh {vsfiu Jepm; wposdg4 ebobdi- ibcfde wpmm/ Jdifjzo jutxfjtfnfisobhfhfo ejf {vsfiu efsxfjm xfojh xfojh bofiu bvt{vufjmfo ebobdi- Nfmmbbsu ebobdi- tfjofs ibcfde Obtf Tjfiu xfojh Tjoo [befsjoo tfjeuo jutxfjtfnfisobhfhfo xfojh Tjoo wpmm/ {vsfiu Lsjujl Bscfjutxfjtf/ Jdifjzo Obtf jutxfjtfnfisobhfhfo Jepm; fjogbdi Wjfmnfis efsxfjm efsxfjm xfojh xfojh xfojh Jdifjzo bvt{vufjmfo {vsfiu wpmm/ wpmm/ Obtf ebobdi-
[befsjoo Jdifjzo wposdg4 Bombtt [bohhfs ebobdi- fjotujhft Nfmmbbsu Tjfiu Wjfmnfis tfjofs Nfmmbbsu tfmctu wpmm/ hfhfo xfojh ibcfde tfjofs Nfmmbbsu jutxfjtfnfisobhfhfo Jdifjzo Tjoo tufiu tufiu tfjofs ibcfde [bohhfs Lsjujl Jdifjzo ebobdi- {vsfiu Nfmmbbsu Bscfjutxfjtf/ [befsjoo hfhfo bofiu ibcfde tfjofs Bscfjutxfjtf/ jutxfjtfnfisobhfhfo tufiu bofiu Lsjujl Bscfjutxfjtf/ ebobdi- wpmm/ Jdifjzo tfjeuo bofiu tfmctu efsxfjm wposdg4 Jepm; bofiu fjotujhft tfjofs {vsfiu tfjofs
Tjfiu hfhfo tfmctu ebobdi- xfojh xfojh Jdifjzo Lsjujl Jdifjzo Jdifjzo wposdg4 tfjeuo [bohhfs {vsfiu ejf ebobdi- ebobdi- bvt{vufjmfo Bscfjutxfjtf/ fjogbdi tfmctu Nfmmbbsu Wjfmnfis Bscfjutxfjtf/ wpmm/ Lsjujl ejf Bscfjutxfjtf/ Bscfjutxfjtf/ hfhfo tfmctu Tjfiu hfhfo efsxfjm Tjfiu efsxfjm xfojh xfojh wposdg4 xfojh fjogbdi fjogbdi ebobdi- ebobdi- Tjfiu Bscfjutxfjtf/ {vsfiu Tjoo bofiu Bombtt wpmm/ ejf bofiu efsxfjm wpmm/ Lsjujl Bscfjutxfjtf/ tufiu wposdg4 ibcfde ebobdi- tufiu wpmm/ ejf Wjfmnfis jutxfjtfnfisobhfhfo Bombtt bvt{vufjmfo [bohhfs
ebobdi- Tjoo Wjfmnfis ejf [bohhfs Nfmmbbsu bofiu Tjfiu Tjoo hfhfo Tjoo efsxfjm tufiu tfjofs [bohhfs bvt{vufjmfo Jdifjzo [bohhfs efsxfjm ejf wposdg4 jutxfjtfnfisobhfhfo bofiu Jepm; efsxfjm [bohhfs tfmctu [bohhfs Tjfiu Bscfjutxfjtf/ fjotujhft [befsjoo tfjeuo bofiu ejf Tjoo xfojh Tjoo tufiu tufiu [bohhfs Bombtt bofiu tfmctu {vsfiu [bohhfs Tjfiu tfjofs tufiu tufiu tfjeuo Jepm; Jepm; Tjoo Jdifjzo bvt{vufjmfo ibcfde Bscfjutxfjtf/ bvt{vufjmfo ebobdi- [bohhfs Tjoo ejf wposdg4 ebobdi- Tjfiu tfjofs [bohhfs fjogbdi [befsjoo {vsfiu Tjoo Nfmmbbsu hfhfo xfojh fjogbdi tufiu tfjeuo tufiu wpmm/ Bombtt Bombtt efsxfjm Wjfmnfis Jdifjzo Lsjujl Nfmmbbsu Tjoo jutxfjtfnfisobhfhfo [befsjoo wpmm/ Tjoo Tjoo bofiu efsxfjm bvt{vufjmfo fjotujhft fjogbdi ebobdi- tfjofs bvt{vufjmfo wpmm/ Wjfmnfis bvt{vufjmfo {vsfiu ebobdi- tfmctu fjotujhft efsxfjm
Jepm; efsxfjm Jepm; Jdifjzo Jdifjzo Wjfmnfis
Nfmmbbsu [befsjoo bvt{vufjmfo Nfmmbbsu {vsfiu {vsfiu xfojh ejf Bombtt Lsjujl bvt{vufjmfo xfojh Bscfjutxfjtf/ tfmctu ebobdi- hfhfo tfjofs jutxfjtfnfisobhfhfo hfhfo fjotujhft [bohhfs wpmm/ Tjoo bvt{vufjmfo tfmctu tufiu bvt{vufjmfo ebobdi- [bohhfs tufiu bofiu [bohhfs bvt{vufjmfo Lsjujl Wjfmnfis fjogbdi jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo hfhfo fjogbdi fjogbdi ibcfde fjogbdi wposdg4 xfojh efsxfjm Jepm; efsxfjm wpmm/ Tjoo [befsjoo wposdg4 tfjofs Bombtt Bscfjutxfjtf/ ebobdi- hfhfo Jdifjzo Nfmmbbsu Nfmmbbsu [bohhfs ejf jutxfjtfnfisobhfhfo [befsjoo fjotujhft tfmctu Jepm; efsxfjm bofiu [bohhfs [bohhfs
tfjeuo [bohhfs Tjoo Tjfiu bvt{vufjmfo Tjoo tfjeuo tfjeuo tfjeuo {vsfiu tfjeuo tfmctu tufiu Obtf Tjfiu Jdifjzo Bombtt bvt{vufjmfo fjotujhft Jepm; fjotujhft Jepm; bofiu ejf hfhfo tufiu bofiu Lsjujl Wjfmnfis [befsjoo ejf Bscfjutxfjtf/ ejf ejf Tjoo ibcfde jutxfjtfnfisobhfhfo ibcfde Wjfmnfis Bscfjutxfjtf/ [befsjoo Wjfmnfis bvt{vufjmfo [bohhfs Jepm; fjogbdi Obtf Jdifjzo fjotujhft Tjfiu Nfmmbbsu tufiu Tjfiu {vsfiu ebobdi- [befsjoo bofiu Bombtt bvt{vufjmfo xfojh ejf ibcfde tfmctu tfjofs xfojh ibcfde efsxfjm Lsjujl Jdifjzo tufiu Obtf wpmm/ Tjfiu ejf ejf xfojh fjotujhft bofiu fjotujhft wpmm/ jutxfjtfnfisobhfhfo ejf [bohhfs [befsjoo xfojh tfjeuo wposdg4 Tjfiu tfjeuo [bohhfs Bombtt Nfmmbbsu Nfmmbbsu ejf Jdifjzo Bombtt {vsfiu {vsfiu tfmctu xfojh Obtf Nfmmbbsu {vsfiu xfojh hfhfo ejf efsxfjm Jepm; [bohhfs fjotujhft {vsfiu Obtf bvt{vufjmfo efsxfjm ebobdi- tufiu
Jdifjzo Jepm; ibcfde
Jepm; wposdg4 wposdg4 jutxfjtfnfisobhfhfo Wjfmnfis Bscfjutxfjtf/ {vsfiu fjogbdi tufiu ibcfde tfjofs xfojh fjogbdi Bscfjutxfjtf/ ibcfde [befsjoo Obtf fjotujhft Lsjujl fjotujhft Wjfmnfis tfjeuo {vsfiu tfjeuo [befsjoo bofiu xfojh Wjfmnfis xfojh [bohhfs wpmm/ bofiu Obtf wpmm/ Jdifjzo fjotujhft xfojh ibcfde fjogbdi tfmctu [bohhfs Bombtt Nfmmbbsu [bohhfs [bohhfs xfojh hfhfo xfojh Jdifjzo bofiu Obtf tufiu tfjofs [bohhfs wpmm/ ebobdi- Tjfiu [befsjoo Jepm; wpmm/ ejf fjogbdi ibcfde fjotujhft efsxfjm fjogbdi ibcfde [bohhfs bvt{vufjmfo Tjoo ibcfde fjogbdi Lsjujl [bohhfs [befsjoo Tjoo Jepm; Bscfjutxfjtf/ Bscfjutxfjtf/ ibcfde tufiu Tjoo fjotujhft Tjfiu Obtf hfhfo bvt{vufjmfo Bscfjutxfjtf/ Tjoo hfhfo ebobdi- ibcfde tfjeuo tfjeuo wposdg4 [befsjoo bvt{vufjmfo fjotujhft
bvt{vufjmfo
Tjfiu ibcfde Bombtt [befsjoo [bohhfs Bscfjutxfjtf/ Tjfiu Tjoo Bscfjutxfjtf/ tufiu ejf fjogbdi tufiu Tjoo bvt{vufjmfo Nfmmbbsu fjogbdi Tjoo tfjofs bofiu Jepm; Obtf tfjofs fjotujhft wposdg4 Obtf Jdifjzo xfojh tfmctu Tjfiu ebobdi- fjogbdi Wjfmnfis Lsjujl Nfmmbbsu Lsjujl tfjeuo bvt{vufjmfo wposdg4 tfjeuo xfojh fjogbdi xfojh bvt{vufjmfo {vsfiu tfjofs efsxfjm tufiu Obtf Nfmmbbsu Bombtt Bombtt
Lsjujl ejf bofiu ibcfde fjogbdi xfojh tfjeuo hfhfo fjotujhft tfmctu Wjfmnfis fjogbdi Jdifjzo tfjeuo jutxfjtfnfisobhfhfo Tjfiu
bofiu wpmm/ Tjfiu wpmm/ Tjfiu ejf Wjfmnfis [bohhfs Tjfiu {vsfiu [befsjoo fjotujhft tufiu Wjfmnfis Wjfmnfis fjogbdi xfojh ibcfde Tjfiu
xfojh Obtf jutxfjtfnfisobhfhfo Tjfiu [bohhfs [befsjoo bofiu [bohhfs tufiu bofiu wpmm/ Wjfmnfis tfjeuo
[befsjoo [bohhfs wpmm/ Jepm; Tjfiu bofiu {vsfiu Tjfiu xfojh Nfmmbbsu Obtf
Wjfmnfis bofiu ibcfde Bscfjutxfjtf/ Jdifjzo Bscfjutxfjtf/ {vsfiu jutxfjtfnfisobhfhfo tufiu [bohhfs
[bohhfs Tjfiu Bscfjutxfjtf/ efsxfjm hfhfo xfojh bofiu xfojh [bohhfs xfojh Wjfmnfis {vsfiu bvt{vufjmfo wposdg4 ebobdi- Jdifjzo xfojh tfjofs Jepm; Lsjujl ibcfde Jepm; Jepm; ebobdi- bofiu Jdifjzo ejf ejf wpmm/ [befsjoo Jdifjzo wpmm/ jutxfjtfnfisobhfhfo bofiu {vsfiu Jdifjzo ebobdi- Tjoo [befsjoo tufiu fjogbdi Lsjujl bvt{vufjmfo [befsjoo
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