Indian renewable energy company, Adani Green Energy Ltd (ADNA.NS) would buy SoftBank Group Corp-backed (9984.T) SB Energy Holdings Limited for an enterprise value of $3.5 billion. It would buy the 80% stake held by SoftBank Group Capital Limited and the rest owned by Indian conglomerate Bharti Global Limited in a cash deal. The deal would allow Adani Green to achieve its targeted renewable portfolio of 25 gigawatts (GW) four years ahead of its expected timeline.
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Important takeaways for all competitive exams:
- Adani Group Founder: Gautam Adani;
- Adani Group Founded: 20 July 1988;
- Adani Group Headquarters: Ahmedabad.