ReNew Energy Receives Nonbinding Buyout Proposal; Shares Rise-March 2024-www.financetom.com

ReNew Energy Receives Nonbinding Buyout Proposal; Shares Rise

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ReNew Energy Receives Nonbinding Buyout Proposal; Shares Rise

Dec 11, 2024 7:56 AM

10:29 AM EST, 12/11/2024 (MT Newswires) -- ReNew Energy Global ( RNW ) said Wednesday it received a nonbinding proposal from a consortium to acquire the stake in the company not already owned by the consortium's members for $7.07 per share in cash.

The consortium consists of Abu Dhabi Future Energy Co. PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC, and ReNew Chief Executive Sumant Sinha, the company said.

ReNew's board has established a special committee consisting of six independent nonexecutive directors to consider the proposal.

The company's shares were up more than 10% in recent trading.

Price: 7.00, Change: +0.66, Percent Change: +10.41

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