India 2nd Largest Clean Energy Generator & Nasdaq-Listed ReNew Energy Shareholders Propose Privatization Buyout Offer for $7.07 Per Share at $2.82 Billion Valuation Representing +11.5% Premium to Closing Price of $6.34 on 10th December 2024, Shareholders Buyout Consortium Includes ReNew Founder & Chairman Sumant Sinha, Canada Pension Plan Investment Board, UAE Masdar & Abu Dhabi Investment Authority Subsidiary
12th December 2024 | Hong Kong
India 2nd largest clean energy generator & Nasdaq-listed ReNew Energy shareholders has proposed a privatization buyout offer for $7.07 per share at $2.82 billion valuation representing a +11.5% premium to closing price of $6.34 on 10th December 2024. The shareholders buyout consortium includes ReNew Founder & Chairman Sumant Sinha, Canada Pension Plan Investment Board, UAE Masdar & Abu Dhabi Investment Authority subsidiary. Announcement (11/12/24): “ReNew Energy Global Plc (“ReNew” or the “Company”) (NASDAQ: RNW, RNWWW) today announced that it has received a non-binding proposal dated December 10, 2024 from Abu Dhabi Future Energy Company PJSC-Masdar (“Masdar”), Canada Pension Plan Investment Board (“CPP Investments”), Platinum Hawk C 2019 RSC Limited as trustee for the Platinum Cactus A 2019 Trust (“Platinum Hawk”) (a wholly owned subsidiary of the Abu Dhabi Investment Authority, “ADIA”) and Sumant Sinha (the Founder, Chairman and CEO of ReNew) (together with Masdar, CPP Investments and Platinum Hawk, the “Consortium”) 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$7.07 per share. The ReNew Board of Directors have formed a Special Committee (“Special Committee”) led by Manoj Singh, the Lead Independent Director, consisting of the six independent non-executive ReNew Directors to consider the non-binding proposal. The role of the Special Committee is to constructively explore and evaluate all strategic capitalization / financing opportunities available to the Company, including the proposal received from the Consortium, and act in the interests of all investors. To assist in these efforts, the Special Committee has retained an independent financial advisor, Rothschild & Co and independent legal counsel, Linklaters LLP. While the Special Committee’s evaluations are underway, the ReNew Executive Management’s primary focus will be to continue to ensure the effective management of the Company and in addition, contribute to the evaluation process, as required by the Special Committee. No assurance can be given regarding the likelihood, terms or details of a potential transaction resulting from the proposal received from the Consortium or any other potential transaction. Further decisions or disclosures by the Special Committee will be made as appropriate or required.”
“ India 2nd Largest Clean Energy Generator & Nasdaq-Listed ReNew Energy Shareholders Propose Privatization Buyout Offer for $7.07 Per Share at $2.82 Billion Valuation Representing +11.5% Premium to Closing Price of $6.34 on 10th December 2024, Shareholders Buyout Consortium Includes ReNew Founder & Chairman Sumant Sinha, Canada Pension Plan Investment Board, UAE Masdar & Abu Dhabi Investment Authority Subsidiary “
ReNew – ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew’s clean energy contracted portfolio of ~16.3 GWs on a gross basis as of November 19, 2024, is one of the largest globally. In addition to being a major independent power producer in India, we provide end‐to‐end solutions in a just and inclusive manner in the areas of clean energy, value‐added energy offerings through digitalization, storage, and carbon markets that increasingly are integral to addressing climate change.
India 2nd Largest Clean Energy Generator & Nasdaq-Listed ReNew Energy Shareholders Propose Privatization Buyout Offer for $7.07 Per Share at $2.82 Billion Valuation Representing +11.5% Premium to Closing Price of $6.34 on 10th December 2024, Shareholders Buyout Consortium Includes ReNew Founder & Chairman Sumant Sinha, Canada Pension Plan Investment Board, UAE Masdar & Abu Dhabi Investment Authority Subsidiary

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