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Record takeover in green energy space: Trilegal, CAM on $1.66bn Renew buy of Ostro

“Sumant Sinha-led Re-New Power Ventures has finalised the takeover of Ostro Energy for an enterprise value of Rs 10,800 crore ($1.66bn), the biggest M&A deal in the renewables sector,” reported the Economic Times.

Trilegal Delhi partner Harsh Pais was instructed by Ostro general counsel (GC) Rachika Sahay for Ostro Energy.

Cyril Amarchand Mangaldas Delhi partner Nivedita Tiwari was instructed by Renew GC Pranav Singh for Renew Power Ventures.

The deal is structured as Rs 4,500 crore as equity, with the remaining Rs 6,300 crore to be a debt component, according to ET, making ReNew the largest player in the renewables space, ahead of Tata Power Renewable Energy.

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