ReNew Energy Global receives acquisition proposal for $7.07 per share in cash

ReNew Energy Global (RNW) has received a non-binding proposal dated December 10, 2024 from Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC Limited as trustee for the Platinum Cactus A 2019 Trust and Sumant Sinha to acquire the entire issued and to be issued share capital of the Company not already owned by members of the Consortium, for cash consideration of $7.07 per share. The ReNew Board of Directors have formed a Special Committee led by Manoj Singh, the Lead Independent Director, consisting of the six independent non-executive ReNew Directors to consider the non-binding proposal. The role of the Special Committee is to constructively explore and evaluate all strategic capitalization / financing opportunities available to the Company, including the proposal received from the Consortium, and act in the interests of all investors. To assist in these efforts, the Special Committee has retained an independent financial advisor, Rothschild & Co and independent legal counsel, Linklaters. While the Special Committee’s evaluations are underway, the ReNew Executive Management’s primary focus will be to continue to ensure the effective management of the Company and in addition, contribute to the evaluation process, as required by the Special Committee.