Adani Group Sells Stake in FMCG Venture

Adani Group has announced its exit from the FMCG joint venture, Adani Wilmar, by selling its entire stake to Wilmar International and on the open market. The deal, valued over USD 2 billion, will ensure Adani Enterprises fully withdraws from Adani Wilmar Ltd by March 31, 2025.

The Adani Group, led by billionaire Gautam Adani, has unveiled its decision to exit the FMCG sector through a significant divestment. The group is selling its entire stake in Adani Wilmar to its Singaporean partner, Wilmar International, and the open market for an estimated USD 2 billion.

According to a statement from Adani Enterprises Ltd, the transaction involves selling a 31.06 per cent stake to Wilmar International while complying with public shareholding requirements by offloading an additional 13 per cent on the open market. The company refrained from disclosing the exact price of the deal.

The strategic move will see Adani's nominee directors stepping down from the board of Adani Wilmar Ltd. The finalization of this transaction is expected to occur before March 31, 2025, marking a full exit for Adani Enterprises from Adani Wilmar.

(With inputs from agencies.)