India's Adani Group to exit Wilmar joint venture (updated)

Wilmar International

30/12/2024 10:02

(Adds details on deal in paragraph 1, 3)
       Dec 30 (Reuters) - India's Adani Group will exit its
consumer goods joint venture with Singapore's Wilmar
International  WLIL.SI , the two companies said on Monday, to
focus on its infrastructure projects.
    Adani Enterprises  ADEL.NS , the group's flagship firm, will
sell a 13% stake in Adani Wilmar  ADAW.NS , with the remaining
31% going to Wilmar.
        Wilmar will acquire Adani's 31% stake at a price not
exceeding 305 rupees per share, the companies said.
    

 (Reporting by Hritam Mukherjee and Nandan Mandayam in
Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))