Reliance New Energy Solar to acquire 40% stake in Sterling & Wilson Solar by admin- Monday, October 11th, 2021 04:57:42 PM
Reliance New Energy Solar (RNESL), a subsidiary of the Reliance Industries Ltd (RIL), has received REC Solar Holdings AS from China National Bluestar Co for an corporation value of $771 million. REC Solar is one of the international’s main sun mobile, panels and polysilicon producer. Also, RNESL will accumulate 40% stake in Sterling & Wilson Solar Ltd (SWSL) via a sequence of transaction at a rate of Rs. 375/percentage (14% cut price to SWSL final last price of Rs. 435/percentage).
Transaction includes preferential trouble of 2.Ninety three crore fairness stocks aggregating to Rs. 1,one hundred crore or 15.46% stake, acquisition of 1.Eighty four crore shares from Shapoorji Pallonji and Company aggregating to Rs. 690 crore or 9.7% stake and acquisition of four.92 fairness stocks from open offer.