Now Reading: CPP Investments-led consortium to take ReNew private
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CPP Investments-led consortium to take ReNew private
A consortium led by Canada Pension Plan Investment Board (CPP Investments) has made a recommended offer to take ReNew Energy Global, a Nasdaq-listed renewables company with its entire business in India, private.…
A consortium led by Canada Pension Plan Investment Board (CPP Investments) has made a recommended offer to take ReNew Energy Global, a Nasdaq-listed renewables company with its entire business in India, private. The transaction, valued in the billions of dollars, is structured as a scheme of arrangement under English corporate law and must comply with US SEC and Nasdaq rules for going-private deals as well as Indian tax and restructuring regulations.
ReNew has retained international law firm Linklaters for advice on the landmark deal. The Linklaters team is led by partners Sushil Jacob, Mike Bienenfeld, and Igor Rogovoy, with support from partners in corporate, tax, incentives, and antitrust practices across multiple jurisdictions.
The take-private transaction, once completed, would delist ReNew from the Nasdaq stock exchange. The consortium's offer is recommended by ReNew's board, and the deal is subject to shareholder and regulatory approvals.
Indian Opinion Analysis
This is one of the largest private-equity-led take-privates of an Indian renewable energy company listed abroad. CPP Investments already held a significant stake in ReNew, and the deal signals continued foreign institutional appetite for India's green energy sector despite global rate hikes. ReNew has a portfolio of over 15 GW of wind and solar projects across India. The transaction's structure, using a UK scheme of arrangement for a Nasdaq-listed firm with Indian operations, reflects the complex cross-border legal framework such deals require. The next milestone will be the court-sanctioned shareholder meeting, where two-thirds of voting shareholders must approve the scheme.
Source: barandbench.com
This story was synthesised by AI from the source linked above.
