From Breakingviews - Mukesh Ambani pulls off one shade of overseas M&A
For all the hype, the largest purchases revolve around bolstering its domestic renewable energy business. Ambani calls this the “newest growth engine” and “far more global in scope than anything Reliance has ever done before”. Top of the list is REC Solar, bought from a Chinese seller for $770 million in 2021. Other deals in its top-four cross-border purchases include U.S.
-based Ambri, a leader in long-duration energy storage solutions, and UK battery technology specialist Faradion. Earlier this month, Reliance bought a majority stake in SenseHawk, which develops software-based management tools for solar energy generation.Most of Ambani’s actual and potential targets equate to pocket change for India’s largest company.
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