Gautam Adani’s Green Energy to buy SoftBank’s SB Energy for $3.5 billion
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Indian renewable energy company Adani Green Energy Ltd said on Wednesday it would buy SoftBank Group Corp-backed SB Energy Holdings Limited for $3.5 billion.</p>
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The billionaire Gautam Adani-led company will buy the 80% stake held by SoftBank Group Capital Limited and the rest owned by Indian conglomerate Bharti Global Limited in a cash deal, the company informed the stock exchanges.</p>
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The deal would allow Adani Green to achieve its renewable energy target of 25 gigawatts (GW) four years ahead of its expected date, the company said.</p>
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SB Energy was established in 2011 and is involved in the generation, supply and sale of electricity and energy produced from renewable sources. SoftBank Chief Executive Masayoshi Son is the company&#39;s chairman.</p>
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