Ahmedabad (Gujarat) [India], July 17 (ANI): Adani has executed the sale of a 20 per cent stake in AWL Agri Business Limited to Wilmar International, Singapore, with the deal size valued at Rs 7,150 crore, according to a stock exchange filing by Adani Enterprises.
The stake sale was executed at Rs 275 per share.
In December 2024, Adani Commodities LLP (ACL), subsidiary of Adani Enterprises Ltd and Lence Pte. Ltd., subsidiary of Wilmar International, Singapore entered into an agreement. They gave each other the option to buy or sell AEL/ACL’s shares in AWL (Adani Wilmar Limited) later, at a price they both agree on, but not more than Rs 305 per share. The two together held 88 per cent in the company (44 per cent each).
In January 2025, AEL/ACL sold 13.5 per cent of its shareholding in AWL at Rs 276.51 per share.
This was done to ensure that a greater proportion of the company’s shares are held by the public, in accordance with regulatory norms that mandate a minimum of 25 per cent public shareholding.
After this sale, ACL/AEL owned about 30.42 per cent of AWL. Wilmar International to replace Adani as majority shareholder in AWL Agri Business Limited, with a 65 per cent stake.
“Upon consummation of the Transaction, the parties have inter alia agreed to terminate the existing shareholders’ agreement and the inter-se agreement,” the stock exchange filing read. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
