M&A
Suzlon to acquire 76% stake in Renom Energy for Rs.660-Cr
Publicly-listed renewable energy firm Suzlon Energy Ltd is to acquire a 76% stake in Renom Energy Services Pvt Ltd from the Kolhapur, Maharashtra-based Sanjay Ghodawat Group.The acquisition will be done in two tranches. The first involves the acquisition of a 51% stake for INR 400 crore. In the second tranche, Suzlon will acquire an additional 25% stake within 18 months from the acquisition of the first tranche, for INR 260 crore.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
