Adani Green to Acquire SoftBank-backed SB Energy
Adani Green Energy Ltd., majority-owned by Indian billionaire Gautam Adani, is in advanced talks to acquire privately-held SB Energy Holdings Ltd. A deal could value SB Energy, owned by SoftBank Group Corp. and Bharti Enterprises Ltd., at more than $650 million. Adani Green is exploring a buyout of the renewable energy company through an all-stock deal. An announcement could come in coming weeks, the discussions could still be delayed or fall apart, they added. A deal could help Adani Green to reach its planned generation capacity of 25 gigawatts by 2025. Shares in Adani Green have risen more than 370% in the past year, giving the company a market value of about $23 billion.
Tags : ALLIED Softbank Acquire Adani Green SB Energy