Mumbai, July 14 -- Aditya Birla Renewables Limited (ABRen), a subsidiary of Grasim Industries Ltd has officially announced the signing of a definitive agreement to acquire 100% equity shares and securities of Solenergi Power Private Limited, which owns the Sprng Energy group of companies, from Shell Overseas Investment B.V., which is a wholly-owned subsidiary of Shell PLC.
According to the official statement, this transaction is amongst the largest acquisitions in India's renewable energy sector both by value and scale. The transaction values the business at an enterprise value of Rs 17,200 crores (~US$1.8 billion). The equity consideration payable to the seller will be determined after adjusting for debt, cash, and other items as specifie...