Canada Pension Plan Investment Board is exploring buying the shares of ReNew Energy Global Plc that it doesn’t already own and taking the Nasdaq-listed firm private, according to people with knowledge of the matter.
The asset manager is in talks with advisers to weigh a tender offer, according to the people, who asked not to be identified discussing confidential information. CPPIB holds a majority stake in ReNew Energy, the people said, adding that talks are ongoing and no final decision has been reached.
ReNew Energy Global Plc Class A shares rose more than 23 per cent, its biggest single-day gain ever, on Friday after Bloomberg News reported CPPIB’s plan to take it private. The stock had dropped to a record low earlier this month.
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