Category : Business and economicsPublished on: January 02 2025
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Adani Enterprises Ltd (AEL) said it has signed agreements with Wilmar International and its subsidiary to exit Adani Wilmar Ltd joint venture in a two-step transaction.
Adani Commodities LLP (ACL), a wholly-owned subsidiary of AEL, will sell all the paid-up equity shares amount to 31.06% shareholding in Adani Wilmar Ltd to Lence Pte. Ltd, which is a wholly-owned subsidiary of Wilmar International Ltd.
In addition, AEL has agreed to divest 13% shares in Adani Wilmar to achieve compliance with minimum public shareholding requirements.
