M&A Deal Summary

Adani Green Energy Acquires SB Energy India

On May 19, 2021, Adani Green Energy acquired energy services and equipment company SB Energy India from SoftBank and Bharti Enterprises for 3.5B USD

Acquisition Highlights
  • This is Adani Green Energy’s 1st transaction in the Energy Services and Equipment sector.
  • This is Adani Green Energy’s largest (disclosed) transaction.
  • This is Adani Green Energy’s 1st transaction in the United States.
  • This is Adani Green Energy’s 1st transaction in California.

M&A Deal Summary

Date 2021-05-19
Target SB Energy India
Sector Energy Services and Equipment
Buyer(s) Adani Green Energy
Sellers(s) SoftBank
Bharti Enterprises
Deal Type Divestiture
Deal Value 3.5B USD

Target

SB Energy India

Delhi, California, United States
SB Energy India provides flexible renewable energy at scale, accelerating the global energy transition and benefiting our planet, customers, communities, and people. SB Energy is based in Delhi, India.

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Buyer(S) 1

Buyer

Adani Green Energy

Ahmedabad, India

Category Company
Founded 2015
Sector Energy Services and Equipment
Employees1,597
Revenue 92.2B INR (2024)
DESCRIPTION

Adani Green Energy is a renewable company. AGEL develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects. The electricity generated is supplied to central and state government entities and government-backed corporations. Adani Green Energy was founded in 2015 and is based in Ahmedabad, India.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

SoftBank

Tokyo, Japan

Category Company
Founded 1981
Sector Diversified
Employees80,909
Revenue 6.57T JPY (2023)
DESCRIPTION

SoftBank is a diversified telecommunications and internet corporation, with operations in broadband, fixed-line telecommunications, e-commerce, Internet, broadmedia, technology services, finance, media and marketing, and other businesses. SoftBank was founded in 1981 and is based in Tokyo, Japan.


DEAL STATS #
Overall 13 of 16
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 7 of 7
State (California) 4 of 4
Country (United States) 9 of 10
Year (2021) 2 of 4
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Iyuno-SDI

London, United Kingdom

Iyuno-SDI is a tech-enabled player with a proprietary cloud-based workflow platform and in the forefront of utilizing artificial intelligence to automate parts of the workflow. Iyuno-SDI is proud to provide exceptional clients with quality in end-to-end localization, media, and creative post-production services. Iyuno-SDI was founded in 2002 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 WeWork

New York, New York, United States

WeWork is a global network of co-working offices and living spaces that looks to foster a community amongst its members. WeWork was established in 2010 and is based in New York City.

Sell -
SELLER

Bharti Enterprises

New Delhi, India

Category Company
Founded 1976
Sector Diversified
DESCRIPTION

Bharti Enterprises operates businesses in the telecom, insurance, and foods sectors. Bharti Enterprises offers – life insurance and general insurance to customers across India. Bharti also serves customers through its fresh and processed foods business. The group has growing interests in other areas such as mobile internet, real estate, training and capacity building, and distribution of telecom / IT products. Bharti Enterprises was founded in 1976 and is based in New Delhi, India.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1