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

Tribune News Service

Updated At : 01:33 PM Oct 05, 2021 IST

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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

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