AcquisitionsMay 29, 2026, 08:33 AM
ReNew Energy receives $6.75/share non-binding acquisition proposal
AI Summary
ReNew Energy Global plc announced it received a non-binding proposal from Canada Pension Plan Investment Board (CPP Investments) and Sumant Sinha to acquire all outstanding shares not already owned by the Consortium for US$6.75 per share in cash. The proposed transaction is structured as a UK scheme of arrangement, offering shareholders the option to receive cash or elect to retain their shares. A Special Committee of independent directors, advised by Rothschild & Co and Linklaters LLP, is currently evaluating the proposal.
Key Highlights
- ReNew Energy received a non-binding acquisition proposal from CPP Investments and Sumant Sinha.
- Consortium proposes to acquire shares not already owned for US$6.75 per share.
- Proposed transaction structured as a UK scheme of arrangement.
- Shareholders can receive US$6.75 cash or elect to retain shares.
- A Special Committee of five independent directors is evaluating the proposal.
- Special Committee retained Rothschild & Co as independent financial advisor.
- Special Committee retained Linklaters LLP as independent legal counsel.
Price Impact
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