Adani Enterprises and Wilmar plan to sell a 13% stake in Adani Wilmar by February to comply with Indian regulations.
Adani Enterprises Ltd and Wilmar International Ltd plan to sell a 13% stake in their joint venture, Adani Wilmar Ltd, valued at about $736 million, starting next month. This divestment is necessary to comply with Indian regulations that require combined ownership to be reduced to 75% by February. Adani Wilmar, known for its Fortune brand cooking oils and other products, has seen its stock rise 3% this year, with a market value of $5.7 billion.
September 16, 2024
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