Adani Group Sells 20% Stake in AWL to Wilmar International
Adani Group has sold a 20% stake in AWL Agri Business Ltd to Wilmar International for Rs 7,150 crore. This moves part of Adani's strategy to exit the FMCG business. Wilmar International will become the majority shareholder with a 64% holding, overtaking Adani.
- Country:
- India
The Adani Group has finalized the sale of a 20% stake in AWL Agri Business Ltd to Wilmar International, a Singapore-based entity, for a total of Rs 7,150 crore. The sale comes as part of a larger plan for Adani to strategically pivot away from its FMCG business segments, sharpening its focus on core infrastructure endeavors.
The dramatic shift in shareholder dynamics sees Wilmar International emerge as the majority stakeholder, now holding a commanding 64% ownership in AWL Agri. This divestment follows a previous transaction where Adani Commodities LLP, a subsidiary of Adani Enterprises Ltd, sold 13.5% of its AWL shares in compliance with public shareholding regulations.
According to the stock exchange filing, Adani Enterprises Ltd, Adani Commodities LLP, and Lence Pte Ltd, a Wilmar subsidiary, have inked the share purchase agreement. This agreement outlines the terms under which Lence will acquire up to 259,935,721 equity shares at Rs 275 per share.
(With inputs from agencies.)
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