India’s Birla Taps MUFG for $1.5 Billion to Fund Shell Asset Buy
Bloomberg 2026-07-14 09:03:39
Context: A unit of billionaire Kumar Mangalam Birla's conglomerate is set to acquire Shell Plc's renewable energy assets in India, with financing of around $1.5 billion secured from Mitsubishi UFJ Financial Group Inc. The deal is a significant development in India's renewable energy sector, with Birla's conglomerate expanding its presence in the industry. The acquisition financing was confirmed by people familiar with the matter.
Key Facts
- A unit of billionaire Kumar Mangalam Birla's conglomerate has lined up around $1.5 billion of acquisition financing from Mitsubishi UFJ Financial Group Inc. to fund its purchase of Shell Plc's renewable energy assets in the country.
- The financing was confirmed by people familiar with the matter, indicating that the deal is progressing as planned.
- The acquisition involves Shell Plc's renewable energy assets in India, marking a significant expansion of Birla's conglomerate in the country's renewable energy sector.