Wilmar International's Strategic Stake Boost: A Key Move in Agribusiness Market
Wilmar International is set to become the majority shareholder in AWL Agri Business Ltd by acquiring up to 20% more shares from the Adani Group. This move aligns with Adani's plan to exit the FMCG sector and concentrate on infrastructure. The transaction, worth Rs 7,150 crore, awaits approval from India's fair trade regulator.
- Country:
- India
Wilmar International, through its subsidiary Lence Pte, seeks regulatory approval from India's fair trade regulator, CCI, to acquire an additional 20% stake in AWL Agri Business from the Gautam Adani-led Adani Group.
The decision follows Adani's earlier announcement of selling its FMCG business stake to focus on infrastructure efforts, within a transaction valued at Rs 7,150 crore. The acquisition will increase Wilmar's stake in AWL Agri Business to potentially 64%, up from the current 43.94% ownership.
This strategic acquisition underscores Wilmar's expansion in the agribusiness sector, as the company's leaders confirmed the transaction poses no competition concerns. Wilmar, headquartered in Singapore, remains focused on its India operations via AWL and Shree Renuka Sugars Ltd.
Google News