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Will Adani Enterprises complete its exit from Adani Wilmar by March 2025?
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Adani Enterprises Ltd•AEL•Adani Wilmar Ltd•Singapore•Wilmar International•Lence Pte Ltd•Adani Wilmar•Adani Commodities LLP•ACL
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Official announcements from Adani Enterprises or Wilmar International
Story
Adani Enterprises to Exit Adani Wilmar JV by March 2025, Raising Over $2 Billion for Infrastructure
Dec 30, 2024, 10:04 AM
Adani Enterprises Ltd (AEL) has announced its complete exit from the Adani Wilmar Ltd joint venture, a consumer goods partnership with Singapore's Wilmar International. The exit strategy involves selling a 31.06% stake to Lence Pte Ltd, a wholly-owned subsidiary of Wilmar International, and divesting approximately 13% of its shares in Adani Wilmar to meet minimum public shareholding requirements. The total transaction, involving AEL's 44% holding in Adani Wilmar, is expected to raise over $2 billion, which AEL plans to utilize for growth in its core infrastructure businesses such as energy & utility, transport & logistics, and other primary industry adjacencies. The transaction, facilitated through Adani Commodities LLP (ACL), is set to be completed by March 2025. As of December 27, 2024, Adani Wilmar had a market capitalization of Rs 42,785 crore. This move comes as AEL aims to focus on its infrastructure projects, marking a strategic shift away from the consumer goods sector.
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