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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Following the transaction, Wilmar International will become the majority shareholder in AWL Agri Business with a 64% holding
The Adani group has sold a 20% stake in AWL Agri Business Ltd (formerly known as Adani Wilmar Ltd) to Wilmar International, Singapore, at Rs 275 a share, for Rs 7,150 crore.
The transaction makes Wilmar the majority shareholder with a 64% stake in the FMCG company, up from 44% previously, according to an exchange filing on 17 July.
AWL Agri Business currently houses edible oil and basmati rice brands like Fortune and Kohinoor.
The exit follows a December announcement that Adani Commodities Llp, a subsidiary of Adani Enterprises, would offload its entire 44% stake in AWL to focus on …
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