Khaitan and Co. will act as legal counsel for RMG II in its USD 8 Billion SPAC Business Combinator with ReNew Power

A leading NASDAQ listed special purpose acquisition corporation, RMG Acquisition Corporation II, ReNew Power and its current investors, including Canada Pension Plan Investment Board, GEF SACEF, JERA Co. Inc, Goldman Sachs, have entered into a business combination agreement that will result in ReNew becoming a publicly listed company on NASDAQ Stock Exchange.

This transaction will be amongst the largest-ever listings that involve an Indian company in the US through the SPAC route.

For this transaction, Khaitan & Co is the Indian legal counsel for RMG II. The deal will be lead by Partners Ashwin Bishnoi, Bharat Anand and Monika Srivastav, who will be assisted by partners Atul Pandey and Moin Ladha (on regulatory aspects), Bijal Ajinkya (on tax law), Shailendra Bhandare ( on Intellectual Property), Avnish Sharma ( on real estate ), Rajat Jariwal ( on litigation ) and Dibyanshu ( on projects ) and Sagardeep Rathi ( on competition law ).

Completing this proposed transaction will be subject to customary closing conditions, including approval from India’s Competition Commission (CCI) and stockholders of RMG II.

As per reports, the transaction will close by the second quarter of 2021.

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