{"id":98736,"date":"2024-12-12T00:00:00","date_gmt":"2024-12-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/masdar-adia-want-to-take-renew-energy-private\/"},"modified":"2024-12-12T00:00:00","modified_gmt":"2024-12-12T00:00:00","slug":"masdar-adia-want-to-take-renew-energy-private","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/masdar-adia-want-to-take-renew-energy-private\/","title":{"rendered":"Masdar, Adia want to take Renew Energy private"},"content":{"rendered":"

Renew Energy shareholders offer buyout to take company private:<\/strong> A consortium of shareholders of Indian clean energy firm Renew Energy Global \u2014 including Masdar, Platinum Hawk (Adia), the Canada Pension Plan Investment Board, and founder Sumant Sinha \u2014 have submitted a bid to take the company private, according to a statement<\/a>. The shareholders collectively own 64% of the Nasdaq-listed company.<\/p>\n

The offer: <\/strong>The group is offering to purchase Renew Energy at USD 7.07 per share, representing an 11.5% premium to the stock's last close. The offer values the company at USD 2.82 bn, and would see Japan\u2019s top utility JERA, which owned 11.7% of Class A shares in the company, exit the firm, Reuters<\/a> reports, though it\u2019s not clear if it still has the same size stake in the firm.<\/p>\n

The company\u2019s stock hasn\u2019t had a good year<\/strong>, falling 18% since the start of the year, and 36% since it went public in February 2021. <\/p>\n

The rationale: <\/strong>The proposal comes on the back of \u201cMasdar's positive assessment of the strength of India\u2019s renewable sector\u201d and would provide \u201ccapital investment to support the country\u2019s energy transition,\u201d Reuters quotes Masdar as saying in a statement<\/a>. <\/p>\n

What\u2019s next? <\/strong>An independent special committee will review the bid, with Rothschild & Co acting as financial advisor and Linklaters as legal counsel.<\/p>\n

About the company: <\/strong>Renew is a leading renewable energy player in India, managing a clean energy portfolio of 10.3 GW, according to Reuters. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company is a leading renewable energy player in India, managing a clean energy portfolio of 10.3 GW<\/p>\n","protected":false},"author":1,"featured_media":98737,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[368,7,60,171,211],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-abu-dhabi-investment-authority","tag-enterpriseam-uae","tag-ma-watch","tag-masdar","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"9f7dff29-5a93-4c57-9f00-f96bd9101436","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1142.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Masdar, Adia eyes taking Renew Energy private","related_issue":[98731],"teaser":"The company is a leading renewable energy player in India, managing a clean energy portfolio of 10.3 GW","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.1a17120a-3e17-441d-9388-f97f8a5bbe81.mp3"},"yoast_head":"\nMasdar, Adia want to take Renew Energy private - 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