Wilmar International

Adani group has sold an additional 13 per cent stake in AWL Agri Business Ltd (formerly Adani Wilmar Ltd) to a subsidiary of Wilmar International through an off-market transaction. Adani Commodities LLP sold 16.9 crore (13 per cent) shares in AWL to Lence Pte Ltd, a subsidiary of Wilmar International, according to a regulatory filing. The sale is part of the broader stake-divestment plan announced earlier this year, under which Wilmar agreed to acquire between 11 per cent and 20 per cent of AWL Agri Business at a price of Rs 275 per share. While the filings by Adani Enterprises Ltd, the flagship firm of Adani group and the parent of ACL, as well as AWL did not discover the sale price, going by Rs 275 apiece, the acquisition cost comes to Rs 4,646 crore. ACL held 20 per cent in AWL. After the sale, it now holds 9.09 crore or 7 per cent of AWL. After buying 13 per cent, Lence now holds 56.94 per cent of AWL. As part of the transaction framework, Adani Enterprises Limited (AEL) and

The unit Lence will buy 169 million shares in the consumer goods joint venture between Wilmar and Adani Group, it added

Adani Group on Friday exited AWL Agri Business (formerly known as Adani Wilmar) by selling its remaining 10.42 per cent stake in the company for Rs 3,732 crore through open market transactions, according to the BSE data. Adani Commodities LLP (ACL), a subsidiary of Adani Enterprises, offloaded a total of 13,54,82,400 equity shares in 11 tranches on Friday, amounting to a 10.42 per cent stake in AWL Agri Business, as per the block deal data on the BSE. The transaction was valued at around Rs 3,732.54 crore and executed at an average price of Rs 275.50 apiece. Meanwhile, Dubai-based Shajaeatan Investment FZCO purchased a little over 11.07 crore equity shares or 8.52 per cent in AWL Agri Business for Rs 3,049.99 crore. Quant Mutual Fund (MF), IDFC MF, Bandhan MF, Jupiter Fund Management, Morgan Stanley Asia Singapore, US-based Susquehanna International Group, Franklin Templeton, Vanguard, and Singapore-based Duro Capital were among the buyers of AWL Agri Business shares on the ...

Adani Enterprises will exit its joint venture with Wilmar by selling its entire 30.42% stake in AWL Agri Business for ₹10,874 crore, with Wilmar's unit Lence set to increase its stake to 63.94%

The sharp decline was triggered by reports revealing that JPMorgan, the New York-based financial giant, maintained its 'Underweight' rating on the stock for a target price of Rs 320

The stake sale, which will occur in two tranches, is estimated to fetch the Adani group approximately $2.2 billion (Rs 18,824 crore) upon completion

Wholly-owned subsidiary of Wilmar Lence Pte Ltd will acquire up to 31.06 per cent of AWL's equity shares held by Adani Commodities LLP (ACL) via call or put options

Representatives for the Adani group and Nuvama did not offer any immediate comments, while representatives for Jefferies, SBI Capital and Wilmar International declined to comment

Shares of Adani Wilmar have slid 6.8% this year, valuing the company at about $5.1 billion

AWL stake sale to be one of the largest in recent times

Earlier this week, Bloomberg reported that Adani Enterprises is exploring selling its stake in its consumer-staple joint venture with Wilmar International

Adani Wilmar is a joint venture between Adani Group, chaired by Indian billionaire Gautam Adani, and Wilmar International

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The company's consolidated revenue from operations rose 40% to Rs 14,379 crore

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