AWL Agri Business Reshapes Ownership as Adani Group Exits

The Adani Group fully exited AWL Agri Business, selling its 44% stake, with AustralianSuper acquiring a portion. Now solely controlled by Wilmar International, AWL seeks classification as a public entity. This ownership change marks a significant milestone for the company, which produces India's largest edible oil brand, Fortune.

AustralianSuper has made a significant investment, acquiring 94.8 lakh shares of AWL Agri Business, a company promoted by Wilmar International. The transaction, valued at Rs 261 crore, marks a substantial shift in AWL's shareholder structure.

The acquisition, which represented a 0.73 percent stake in the company, coincided with Adani Group's complete exit from its holdings, marking a reshaping moment for AWL Agri Business. The Adani Group, through entities like ACL and Adani Enterprises, had held a 44 percent stake.

With Adani Group stepping away, Wilmar International becomes the sole promoter, controlling an estimated 57 percent stake. AWL now operates with a clear multinational footprint, bolstering its position in the market with the Fortune brand and expanding its reach in food staples.

(With inputs from agencies.)