ReNew Global Energy Plc (ReNew) announced this week that it has received a best and final non-binding proposal from a consortium of its promoters to acquire the entire issued and to be issued share capital of the company not already owned by members of the Consortium, for cash consideration of US$8.15 per share. This represents an increase of $1.08 per share, equivalent to 15.3%, from the initial non-binding proposal dated December 10, 2024.
The consortium comprises Masdar, Canada Pension Plan Investment Board (CPP Investments), Platinum Hawk (an arm of the Abu Dhabi Investment Authority, ADIA) and Sumant Sinha (the founder, chairman and CEO of ReNew).
The revised proposal represents a 28.5% premium versus the undisturbed share price of $6.34 on December 10, 2024, being the closing share price prior to the initial non-binding proposal becoming public and a 41.5% premium to the 30-day volume-weighted average price of $5.76 per share (as of Dec. 10, 2024)
As previously announced, the ReNew Board of Directors formed a Special Committee led by Manoj Singh, the lead independent director, consisting of the six independent non-executive ReNew Directors to consider the proposals received from the Consortium.
The Special Committee is in the process of evaluating the Revised Proposal alongside its independent financial advisor, Rothschild & Co and independent legal counsel, Linklaters LLP. Active discussions with the Consortium remain ongoing and the Special Committee will provide a conclusive update as soon as reasonably practicable.
ReNew is a NASDAQ-listed decarbonization solutions company with a clean energy portfolio of 18.2 GW (plus 1.1 GWh BESS) on a gross basis as of Aug. 13, 2025.
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