Wilmar seeks CCI nod to raise stake in AWL Agri business to majority
This follows Adani Group’s announcement last month of selling its 20 percent stake to Singapore-based Wilmar for Rs 7,150 crore, as part of its broader strategy to exit the FMCG sector and double down on infrastructure.
Wilmar, which currently holds a 43.94 percent stake in AWL Agri Business, could see its shareholding rise to between 54.94 percent and 63.94 percent post-transaction, becoming the majority owner, according to media reports.
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Wilmar International, via its subsidiary Lence Pte, has sought approval from the Competition Commission of India (CCI) to acquire a 20% stake in AWL Agri Business from the Adani Group.
This follows Adani Group’s announcement last month of selling its 20 percent stake to Singapore-based Wilmar for Rs 7,150 crore, as part of its broader strategy to exit the FMCG sector and double down on infrastructure.
Wilmar, which currently holds a 43.94 percent stake in AWL Agri Business, could see its shareholding rise to between 54.94 percent and 63.94 percent post-transaction, becoming the majority owner, according to media reports.
Founded in 1991, Wilmar is Asia’s leading agribusiness group.
