Adani Enterprises (AEL) has agreed to sell its stake in Adani Wilmar (AWL) to Lence a subsidiary of Wilmar International Limited. The deal, made on December 30, 2024, will see Lence acquire up to 31.06 per cent of AWL’s shares, which are currently owned by AEL’s subsidiary, Adani Commodities (ACL). This is the first step in AEL’s plan to completely exit its 44 per cent stake in Adani Wilmar.
As part of the deal, Adani Enterprises (AEL) will also sell about 13 per cent of its shares in Adani Wilmar (AWL) to meet public shareholding requirements. AWL’s market value was Rs 42,785 crores ($5 billion) as of December 27, 2024.
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Additionally, AEL’s board has approved the resignation of its representatives on AWL’s board, and both parties have agreed to change the company’s name once the deal is completed.
The money from the sale will be used to boost AEL’s investments in key infrastructure areas like energy, utilities, transport, logistics, and other important sectors. This move is part of AEL’s plan to become India’s biggest listed company focused on infrastructure, helping drive the country’s growth.
Adani Wilmar, a partnership between AEL and Wilmar, is the largest food FMCG company in India, trusted by millions of households. It has an extensive distribution network that covers all urban areas and over 30,600 rural towns, and it exports to more than 30 countries globally.
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