ABRen Secures $1.6 Billion from MUFG to Fund Sprng Energy Acquisition

Aditya Birla Renewables (ABRen), the renewable energy arm of the Aditya Birla Group, has secured a $1.6 billion (~₹153.08 billion) term loan facility from Mitsubishi UFJ Financial Group (MUFG) for its proposed acquisition of Solenergi Power, which includes the Sprng Energy group of companies.ABRen signed an agreement to acquire Sprng Energy from Shell Overseas Investment for an enterprise value of ₹172 billion (~$1.8 billion) in July this year.MUFG provided the sole underwritten facility and acted as the mandated lead arranger, underwriter, and bookrunner for the transaction.