ReNew Receives Acquisition Offer: A Stake in the Future of Clean Energy
ReNew has received a non-binding offer from a consortium including Masdar and CPP Investments to acquire all shares not already owned by consortium members for USD 8 per share. This offer is a significant premium over prior share prices. The Special Committee is currently evaluating the proposal.
- Country:
- India
ReNew, a prominent player in the clean energy sector, announced a significant development on Thursday, revealing a final non-binding offer for the acquisition of its entire issued share capital that is not currently owned by a consortium group.
The consortium, comprising Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC Limited, and ReNew's Founder and CEO Sumant Sinha, has proposed a cash consideration of USD 8 per share, marking a notable premium over previous stock valuations.
A Special Committee with the help of Rothschild & Co and Linklaters LLP is analyzing the proposal, with ongoing discussions with the consortium to ensure a comprehensive review. An update from the Board is anticipated soon.
(With inputs from agencies.)
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