 "Adani, Wilmar, Joint Venture- Adani-Wilmar")
Wilmar International, through its subsidiary Lence Pte Ltd, has approached the Competition Commission of India (CCI) for approval to acquire a 20 per cent stake in AWL Agri Business Ltd from the Gautam Adani-led Adani Group, reported PTI.
Adani-Wilmar deal details
Adani Group announced in July the sale of a 20 per cent stake in AWL Agri Business (formerly Adani Wilmar Ltd) to Singapore-based Wilmar International for ₹7,150 crore, as part of its plan to exit the FMCG business and focus on infrastructure.
In the notice filed with CCI, Lence Pte has proposed to acquire a maximum of 20 per cent and a minimum of 11 per cent of the paid-up equity share capital of AWL Agri Business.
Wilmar currently holds 43.94 per cent in the company through Lence Pte. After the transaction, Wilmar’s stake will rise to between 54.94 per cent and 63.94 per cent, making it the majority shareholder. The parties told the regulator that the deal will not raise competition concerns, and market delineation is not required, reported PTI.
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Adani’s phased divestment
Adani Group has been gradually reducing its stake in AWL:
January 2025: Adani Commodities LLP (ACL), a subsidiary of Adani Enterprises, sold 13.51 per cent via the offer-for-sale route, raising ₹4,855 crore at ₹276.51 per share
July 2025: ACL agreed to sell 20 per cent to Wilmar International at ₹275 per share, in a deal worth ₹7,150 crore
Upcoming: ACL plans to divest its remaining 10.42 per cent stake, completing Adani’s exit from the FMCG business
Together, Adani and Wilmar earlier held about 88 per cent in AWL (44 per cent each). After the latest transaction, Wilmar will become the majority owner with around 64 per cent stake, overtaking Adani.
In total, Adani Group expects to raise over ₹15,700 crore from its complete divestment of 44 per cent in AWL Agri Business.
Adani Group’s exit from AWL
The divestment aligns with Adani Group’s December 2024 decision to fully exit AWL and sharpen focus on its core infrastructure businesses. Adani Enterprises’ board has already approved the execution of the share purchase agreement between itself, ACL, and Lence.
(With agency inputs)
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