financetom
Business
financetom
/
Business
/
Top shareholders offer to take India's Renew Energy private
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Top shareholders offer to take India's Renew Energy private
Dec 11, 2024 2:36 AM

Dec 11 (Reuters) - A group of shareholders has

offered to take Indian clean energy firm Renew Energy Global ( RNW )

private, an SEC filing showed on Tuesday.

The group comprising Renew's founder and chairman, Sumant

Sinha, Canada Pension Plan Investment Board, Abu Dhabi

Investment Authority's subsidiary Platinum Hawk, and Masdar,

owns 64% of the fully diluted public shares of the Nasdaq-listed

company.

The group is offering shareholders of the company - whose

market capitalisation stood at $2.37 billion as of last close,

according to LSEG data - $7.07 per share, a premium of 11.5% to

the stock's last close.

Renew, which has a clean energy portfolio of about 16.3

gigawatts (GW) as of Sept., is among the top firms in the

renewable energy space in India, and competes with companies

like Adani Green and Tata Power

"This proposal reflects Masdar's positive assessment of the

strength of India's renewable sector and would provide capital

investment to support the country's energy transition," the UAE

government-owned renewable energy company said in a statement.

Renew shares have fallen about 36% since listing in Feb

2021.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Johnson & Johnson Submits New Drug Application for TAR-200 Drug-Releasing System for Bladder Cancer
Johnson & Johnson Submits New Drug Application for TAR-200 Drug-Releasing System for Bladder Cancer
Jan 15, 2025
08:25 AM EST, 01/15/2025 (MT Newswires) -- Johnson & Johnson ( JNJ ) said Wednesday that it has submitted a New Drug Application to the US Food and Drug Administration for its investigational intravesical drug-releasing system TAR-200 in a certain kind of bladder cancer. The company said TAR-200 is being tested for patients with Bacillus Calmette-Guerin -unresponsive high-risk non-muscle-invasive bladder...
Seized Barrick gold now held at state-owned Malian bank BMS, sources say
Seized Barrick gold now held at state-owned Malian bank BMS, sources say
Jan 15, 2025
Jan 15 (Reuters) - About 3 metric tons of gold seized from Canadian miner Barrick Gold's ( GOLD ) Loulo-Gounkoto mining complex in Mali is now being held at state-owned Banque Malienne de Solidarite (BMS), two sources told Reuters. (Reporting by Giulia Paravicini and Portia Crowe Editing by David Goodman ) ...
Oncolytics Biotech Says German Regulatory Approval Received for Full Patient Enrollment in Pancreatic Cancer Study
Oncolytics Biotech Says German Regulatory Approval Received for Full Patient Enrollment in Pancreatic Cancer Study
Jan 15, 2025
08:26 AM EST, 01/15/2025 (MT Newswires) -- Oncolytics Biotech ( ONCY ) said Wednesday that Germany's Paul-Ehrlich-Institute has approved the continuation of patient enrollment in Cohort 5 of its GOBLET study. The company said the cohort will assess pelareorep combined with modified FOLFIRINOX with or without atezolizumab in patients newly diagnosed with pancreatic ductal adenocarcinoma. The approval, which paves the...
Brazil's Gol releases new five-year plan ahead of Chapter 11 exit
Brazil's Gol releases new five-year plan ahead of Chapter 11 exit
Jan 15, 2025
SAO PAULO (Reuters) - Brazilian airline Gol released a revised five-year strategic plan on Wednesday as it prepares to exit Chapter 11 bankruptcy proceedings, saying the new forecasts would serve as a base for its reorganization. Gol said in a securities filing it expects to emerge from Chapter 11 in May, and sees its net leverage substantially improving going forward...
Copyright 2023-2026 - www.financetom.com All Rights Reserved