ReNew Energy Global signs binding $7.02/share take-private deal with CPPIB and CEO-led consortium
RNW sits 40% above its 52-week low of $4.385.
Summary
ReNew Energy Global has entered into a definitive agreement to be taken private by a consortium of CPP Investments and its CEO at $7.02 per share in cash, a 12.5% premium. The deal is backed by irrevocable commitments from 51.1% of voting shareholders and is expected to close in Q1 2027.
Key Events · M&A and Partnerships · RNW
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Definitive Take-Private Agreement Signed
A consortium of CPP Investments and CEO Sumant Sinha has agreed to acquire all outstanding shares not already owned for $7.02 per share in cash, a 12.5% premium to the last undisturbed price.
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Deal Structure and Rollover Option
The acquisition will be effected via a UK scheme of arrangement. Shareholders may elect to receive $7.02 cash or retain their shares (rollover) and participate in a post-closing reorganization into ReNew Private Limited, subject to certain caps.
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Irrevocable Shareholder Support
JERA Nex and Platinum Cactus, holding 51.1% of voting power, have irrevocably committed to vote in favor of the scheme and elect the rollover, virtually ensuring shareholder approval.
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Transaction Value and Premium
The cash offer values ReNew's equity at approximately $2.8 billion on a fully diluted basis, implying an enterprise value of $10.2 billion. The price represents premiums of 24.7% and 32.5% over the 1-month and 3-month VWAPs, respectively.
Analysis · RNW · Energy & Transportation
A consortium led by CPP Investments and CEO Sumant Sinha has signed a binding agreement to acquire ReNew Energy Global for $7.02 per share in cash, representing a 12.5% premium to the undisturbed price. Structured as a UK scheme of arrangement, the deal offers a rollover option for shareholders who wish to remain invested. With irrevocable undertakings from holders of 51.1% of voting power, shareholder approval is all but assured. The transaction values ReNew's equity at approximately $2.8 billion and implies an enterprise value of $10.2 billion. By converting the prior non-binding proposals into a definitive agreement, the path to closing—expected in Q1 2027, subject to regulatory approvals in India, Belgium, and France—is now clearly defined.
At the time of this filing, RNW was trading at $6.14 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $4.39 to $8.24. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.