BENGALURU, July 13 (Reuters) - India's Grasim Industries said on Monday its unit will buy Sprng Energy from British oil major Shell in a deal worth $1.8 billion, including debt, making it one of the largest acquisitions in the country's renewables energy space.
The acquisition will add 5 gigawatt in capacity to the unit Aditya Birla Renewables' portfolio, and take the group's renewables portfolio to 9.3 GW.
The final equity consideration will be determined after adjustments for debt and cash, Grasim said.
The deal will be financed through a mix of debt, equity infusion from Grasim, and funds managed by Global Infrastructure Partners, a unit of BlackRock, it said.
