- ReNew Energy Global Plc receives a final non-binding offer from an international consortium.
- The offer is for $8.00 per share, a 26.2% premium over its December 2024 share price.
- A Special Committee is evaluating the proposal with external advisors.
ReNew Energy Global Plc (RNW, Financial) has announced the receipt of a final non-binding offer from a consortium consisting of Abu Dhabi Future Energy Company PJSC-Masdar (Masdar), Canada Pension Plan Investment Board (CPP Investments), Platinum Hawk C 2019 RSC Limited (acting as trustee for the Platinum Cactus A 2019 Trust, a wholly owned subsidiary of the Abu Dhabi Investment Authority), and Sumant Sinha, its Founder, Chairman, and CEO.
This offer is aimed at acquiring all shares not already owned by the consortium members at a price of $8.00 per share. This proposed price reflects a 26.2% premium compared to the company's closing share price of $6.34 on December 10, 2024, and a 38.9% premium over the 30-day volume-weighted average price of $5.76 as of the same date.
The ReNew Board of Directors has established a Special Committee, led by Lead Independent Director Manoj Singh, to evaluate the offer. The committee is working alongside its independent financial advisor, Rothschild & Co, and legal counsel, Linklaters LLP, to thoroughly assess the proposal.
ReNew has emphasized that no assurance can be given regarding the likelihood, terms, or details of a transaction materializing from this offer. The Special Committee will keep the market informed as the evaluation progresses.
ReNew Energy Global Plc is a leading decarbonization solutions provider, with a clean energy portfolio of approximately 18.5 GWs, and is publicly traded on Nasdaq under the ticker RNW.
