Goldman-Backed Renew Power Said Near Deal with RMG Acquisition Corporation II (RMGB) - Bloomberg

February 23, 2021 4:42 PM EST

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(Updated - February 23, 2021 4:44 PM EST)

ReNew Power, India's biggest renewable power producer, is nearing an agreement to merge with blank-check company RMG Acquisition Corporation II (NASDAQ: RMGB), according to Bloomberg, citing people familiar with the matter.

The deal would give the Goldman Sachs backed ReNew an enterprise value of $8 billion.

An $855 million private placement to support the transaction is being raised.

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