RIL unit Reliance New Energy Solar said it acquired REC group from China National Bluestar (Group) Co. Ltd at an enterprise value of $771 million. Later in the day, Reliance announced it agreed to buy a 40% stake in Sterling & Wilson Solar Ltd, a Shapoorji Pallonji group (SP group) company, for about ₹2,845 crore at ₹375 per share. That’s a 14% discount to the ₹434 per price that Sterling & Wilson Solar last traded on Friday. Sterling & Wilson Solar has a 3,000 strong team and presence across 24 countries. It provides a range of solar energy turnkey solutions, including design, procurement, construction, project management and operations and management.

Source: Mint October 10, 2021 17:42 UTC