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Market Chatter: Shell Nears Sale of Sprng Energy's India Business to Aditya Birla

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FINWIRES Analysis

Shell's pursuit of a ~$1.8 billion exit from Sprng Energy fits its broader strategy of trimming lower-return renewables to prioritize cash-generative oil and gas. Aditya Birla emerging as frontrunner would mark another Indian conglomerate scaling up green-power assets as foreign majors retreat. The early-stage caveat and rumor framing mean valuation and timing remain unconfirmed.

Key Takeaways

  • Aditya Birla frontrunner for Sprng Energy unit
  • Shell seeks roughly $1.8 billion valuation
  • Agreement possible within coming weeks

Shell's (SHEL) Sprng Energy Indian renewable power business could be acquired by Aditya Birla Group, which has emerged as the frontrunner for the unit, Bloomberg reported Monday, citing people familiar with the matter.

An agreement for the unit could be signed in the coming weeks, according to the report. Shell is seeking a valuation of around $1.8 billion for the unit, but terms could change, Bloomberg cited the sources as saying.

A Shell representative told Bloomberg the company is in initial discussions with potential partners interested in Sprng Energy and that it is too early to comment on any outcome.

Shell did not immediately reply to' request for comment. Aditya Birla declined to comment to Bloomberg and could not immediately be reached by.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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