Adani Group is considering selling its 43.97% ownership in Adani Wilmar, a joint venture with Singapore-based Wilmar International. The purchase should be finalized within a month, with proceeds going to infrastructure…
Adani Group is allegedly in talks to sell its 43.97% interest in Adani Wilmar to numerous multinational consumer products corporations. The deal should be finalized in a month.
According to the media, Chairman Gautam Adani’s conglomerate wants $2.5-3 billion for its joint venture investment. Adani Wilmar, a joint venture with Wilmar International in Singapore, owns Fortune edible oils. Wilmar owns 43.87% of the firm. The JV incorporated in January 1999.
The group and Adani Wilmar have not commented on the report.
According to a source, the group will quit several industries to invest in infrastructure. Plans include disinvesting in Adani Wilmar. The proceeds will be invested, not used to reduce debt.
For months, reports have circulated that the business is selling non-core assets to generate a liquidity buffer. Investors lost $150 billion after the Hindenburg Research report.
In addition to Fortune, Adani Wilmar sells wheat flour, rice, legumes, and sugar. This website claims to be one of the fastest-growing packaged food firms in the nation. It produces the most castor oil and lauric fat in India. Adani Wilmar exports the most castor oil and derivatives.
The company has 23 units across 10 Indian states.
Conclusion
Adani Group is holding talks with several international consumer products businesses to sell its 43.97% ownership in Adani Wilmar, a joint venture with Singapore-based Wilmar International. This deal should be finalized in a month. Fortune edible oils are owned by Adani Wilmar, a joint venture with Wilmar International. The conglomerate would sell several firms, notably Adani Wilmar, to invest in infrastructure. The funds will be invested, not used to reduce debt. One of India’s fastest-growing packaged food firms, Adani Wilmar is the largest lauric fat manufacturer and castor oil and derivative exporter. The company has 23 units across 10 Indian states.
