Adani's Strategic Exit from FMCG Giant Adani Wilmar

Billionaire Gautam Adani's group is exiting its FMCG joint venture, Adani Wilmar, by selling its entire stake worth over USD 2 billion to Singaporean partner Wilmar International and in the open market. Proceeds will enhance Adani Enterprises' core infrastructure investments after overcoming bribery scrutiny in the US.

In a significant financial maneuver, Gautam Adani's conglomerate announced its exit from the FMCG sector by offloading its entire stake in Adani Wilmar Limited, fetching over USD 2 billion. This move marks the first major transaction since US bribery allegations against Adani leaders.

Adani Enterprises Limited, previously holding 43.94% in Adani Wilmar, will sell 31.06% directly to Wilmar International, with another 13% in the open market to comply with public shareholding norms. This transaction, expected to finalize by March 2025, will fund Adani's infrastructure growth.

This strategic exit aligns with Adani's financial optimization, restoring liquidity and focus post-legal scrutiny. Adani Wilmar remains a joint venture with substantial market presence and financial impact, having recently listed and garnered significant capital support.

(With inputs from agencies.)