Adani Green completes buyout of SB Energy India for $3.5 bn

New Delhi, October 4

Adani Green Energy Ltd (AGEL) on Monday said it has completed the acquisition of SB Energy India for $3.5 billion (Rs 26,000 crore).

“AGEL, the world’s largest solar power developer, successfully completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal for which definitive agreements were signed on May 18, 2021,” a company statement said.

All-cash TRANSACTION

• Adani completed the buyout in an all-cash deal for which definitive agreements were signed on May 18
• The deal pegs SB Energy at Rs26,000 crore and marks the largest acquisition in the renewable energy sector in India

With this deal, SB Energy India is now a 100% subsidiary of AGEL. Earlier, it was 80:20 joint venture between SoftBank Group Corp and Bharti Group. — PTI