Adani Enterprises (AEL) is set to exit Adani Wilmar, its 25-year-old joint venture with Wilmar International in a deal worth around $2 billion. AEL will use the proceeds from the sale to turbocharge its investments in the core infrastructure platforms in energy & utility, transport & logistics and other adjacencies in primary industry.s.
Adani Enterprises, Adani Commodities (ACL, a wholly-owned subsidiary of AEL), and Lence ( a wholly owned subsidiary of Wilmar International) have entered into an agreement to which Lence will acquire all the paid-up equity shares of Adani Wilmar held by ACL as at the date of exercise of the call option or put option, as the case may be, in respect of a maximum of 31.06% of the existing paid up equity share capital of Adani Wilmar.
In addition, it has been agreed between the parties that AEL will divest ~13% of shares in Adani Wilmar to achieve compliance with minimum public shareholding requirements. It may be noted that with the completion of these two legs, AEL would completely exit its ~44% holding in Adani Wilmar. As of Friday, December 27, 2024, Adani Wilmar had a market capitalization of ₹42,785 crore ($ 5.0 billion).
The parties have agreed to take further steps for the change of name of Adani Wilmar.
Adani Wilmar has 100% urban coverage and presence in over 30,600 rural towns in India and exports to over 30 countries globally.
