Adani Enterprises has divested its remaining 20 per cent holding in AWL Agri Business to Singapore-based Wilmar International for ₹275 a share, realising ₹10,874 crore in cash. The transaction, disclosed on 17 July, lifts Wilmar’s ownership in the fast-moving consumer-goods company to roughly 64 per cent, giving it majority control. The exit completes Adani’s phased withdrawal from the venture. In January the group offloaded 13.5 per cent of AWL through an offer for sale at the same price, bringing total proceeds from the two transactions to about ₹15,729 crore. Adani has said the divestment will allow it to concentrate on core infrastructure businesses. Shares of AWL Agri rose more than 5 per cent after the announcement.
#NewsAlert | Adani Enterprises executes sale of 20% stake in AWL Agri Biz to Wilmar International, Singapore @AdaniOnline #StockMarketIndia https://t.co/GLctdaZ0s2
Adani Enterprises executes pact to complete stake sale in AWL Agri, making Wilmar the majority shareholder #AdaniEnterprises #Business Details here⤵️ https://t.co/RRpGHZlOCt
#AdaniEnterprises to earn ₹10,874 crore cash after 20% stake sale in #AWLAgri https://t.co/E0JGCFKgvw