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.
Important takeaways for all competitive exams:
- Adani Group Founder: Gautam Adani;
- Adani Group Founded: 20 July 1988;
- Adani Group Headquarters: Ahmedabad.