The Canada Pension Plan Investment Board (CPPIB) is in talks with advisers regarding a tender offer that would lead to the acquisition of the remaining shares of ReNew Energy Global that it doesn’t already own, sources with knowledge of the matter told Bloomberg.
The acquisition also would take the firm private. After this was revealed, class A shares in the company rose 23 percent on March 24 — its largest single-day gain to date.
CPPIB acquired $268 million worth of ReNew shares from Goldman Sachs Group in March, bringing its stake in the company to 51 percent. Talks are ongoing and no final decision has been reached.
