“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
Cyril Amarchand Mangaldas Delhi
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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And the instruction would have been from Actis, the shareholder of the target, not the target itself.
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