2023-03-24 08:19:35 ET
ReNew Energy Global ( NASDAQ: RNW ) +5.9% pre-market Friday after Bloomberg reported the Canada Pension Plan Investment Board is exploring buying the shares of the Indian renewable energy company it does not already own and then taking the company private.
CPPIB, the controlling shareholder in ReNew ( RNW ), is in talks with advisors to weigh a tender offer, according to the report.
The asset manager bought $268M worth of ReNew ( RNW ) shares from Goldman Sachs earlier this month, giving it a 51.6% stake.
ReNew Energy Global ( RNW ) "stands out with its differentiated focus, which puts the company at a unique advantage over the long run with higher than plain vanilla return opportunities," The Green Edge writes in an analysis posted on Seeking Alpha .
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Canada Pension Plan weighs buyout of ReNew Energy Global - report