ReNew Power completes merger with US-based RMG II
ReNew Power Pvt Ltd (ReNew Power) on Tuesday said it has completed “business combination” with US-based RMG Acquisition Corporation II (RMG II). ReNew Power in February had announced merger with blank-check company RMG II, giving India’s biggest renewable power producer an enterprise value of USD 8 billion and listing on NASDAQ.
A blank-check company is a developmental stage firm that does not have an established business plan.
“As a result of the business combination, RMG II has become a wholly-owned subsidiary of ReNew Energy Global plc (the post-combination entity referred…as ReNew,” ReNew Power said in a statement.
