NEW DELHI : On the morning of 13 May, SB Energy’s chief executive officer (CEO) Raman Nanda was busy assuaging the many concerns of the firm’s employees. The company’s rank and file were a bit shaken. Just the previous day, after months of negotiations, the Canada Pension Plan Investment Board (CPPIB) had announced that it was dropping its plan to buy Japanese investment giant SoftBank Group Corp.’s 80% stake in SB Energy.
SoftBank executives were at hand to support Nanda, who asserted that SB Energy was in India for the long haul. Less than a week later, billionaire Gautam Adani’s Adani Green Energy Ltd (AGEL) would announce the acquisition plans for SB Energy India.
