Linklaters advises ReNew on recommended US$7.02/share take-private by CPP Investments–Sinha consortium via UK scheme

M&A / JV 11 Aug 2026· ₹23,400 cr / US$2.8 bn (fully diluted); EV US$10.2 bn · Announced· ✓ Verified

The consortium holds approximately 74% voting power (including JERA Nex's ~11.6% and Platinum Cactus's stake via ADIA). Non-consortium shareholders have the option to receive US$7.02 in cash or elect a rollover into the company's Indian subsidiary, with cash as the default. ReNew also agreed to sell 1,055 MW of solar assets in Rajasthan and Karnataka to Purvah Green Power for approximately US$537 million (INR 50.8 bn enterprise value), generating estimated INR 18.1 billion of cash inflows to support the financing. The transaction remains subject to UK court approval of the scheme and regulatory clearances in India.

Why it mattersComplex cross-border take-private of a UK-listed company with India-based operations exemplifies multi-jurisdictional M&A gating: UK scheme mechanics interact with US securities law (going-private notification, Form 6-K disclosure), Indian tax law, and post-closing reorganization into the private Indian subsidiary, requiring coordinated counsel teams across three jurisdictions.
CounselLinklaters, Rothschild & Co
SectorEnergy & Renewables
Value₹23,400 cr / US$2.8 bn (fully diluted); EV US$10.2 bn
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