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New Deal


Announced

Completed

CPPIB completed the acquisition of an additional 14% stake in ReNew Energy Global from Goldman Sachs for $269m.

Financials

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Transaction Value£223m
Consideration TypeCash
Capital Owned38%
Capital Bid For14%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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India

Single Bidder

Cross Border

Majority

Friendly

Completed

Public

Energy Renewable

Renewable Energy Equipment

Acquisition

Private Equity

Synopsis

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CPPIB, a Canadian public pension fund, completed the acquisition of an additional 14% stake in ReNew Energy Global, a renewable energy company based in India, from Goldman Sachs, an investment banking company, for $269m. Goldman Sachs has been offloading its shares of ReNew recently, in a bid to comply with US laws. Moody’s Investors Service sees the stake sale as a credit positive for RPPL, as it provides more visibility into RPPL’s long-term shareholder structure.

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