New Delhi, Jul 3 (PTI) Clean energy firm ReNew on Thursday announced it has received a final non-binding offer to acquire the entire issued and to be issued share capital of the company not already owned by members of the consortium for cash consideration of USD 8 per share.

The offer has been received from Abu Dhabi Future Energy Company PJSC-Masdar (Masdar), Canada Pension Plan Investment Board (CPP Investments), Platinum Hawk C 2019 RSC Limited as trustee for the Platinum Cactus A 2019 Trust (Platinum Hawk) and Sumant Sinha (the Founder, Chairman and CEO of ReNew), the company said in a statement.

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The consortium includes Sinha together with Masdar, CPP Investments and Platinum Hawk.

The final non-binding offer represents a 26.2 per cent premium versus the undisturbed share price of USD 6.34 on December 10, 2024, being the closing share price prior to the initial non-binding proposal becoming public and a 38.9 percent premium to the 30-day volume-weighted average price of USD 5.76 per share (as of December 10, 2024).

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The company's Board of Directors had earlier formed a Special Committee to consider the proposals received from the Consortium.

The Special Committee is in the process of evaluating the final non-binding offer alongside its independent financial advisor, Rothschild & Co and independent legal counsel, Linklaters LLP.

Active discussions with the Consortium remain ongoing and the Special Committee will provide an update to the market as soon as reasonably practicable.

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