Wilmar Completes Acquisition Of 13% Stake in AWL, Becomes Majority Shareholder

Wilmar International Ltd., announced the completion of its wholly-owned subsidiary Lence Pte. Ltd.'s acquisition of a 13% stake in AWL Agri Business Limited, which was formerly Adani Wilmar Ltd.

The transaction involved the purchase of 168,958,219 equity shares at a price of Rs 275 per share, immediately elevating Wilmar’s effective shareholding to 56.94%, making AWL an indirect majority-owned subsidiary.

This executed sale is a key step in the broader divestment strategy by the Adani Group. Adani Enterprises Ltd. had previously announced an agreement to sell a 20% stake in AWL to Lence as part of its eventual plan to fully exit the FMCG joint venture. The sale of the 20% chunk was valued at Rs 7,149 crore at the same share price.

With this ongoing divestment, Wilmar is positioned to become the dominant shareholder, indicating its total holding will rise to approximately 64% upon the full execution of the agreements.

Adani Group's total proceeds from the full divestment of its entire 44% stake, including a prior Offer For Sale in January 2025, are expected to reach Rs 15,729 crore. The companies also formally terminated an earlier agreement that had granted mutual call and put options for a significant stake in AWL.

The remaining 10.42% stake currently held by Adani Commodities will be sold to pre-identified investors before the transaction with Lence is completed. After all transactions are closed, Adani Commodities will fully exit AWL, which will no longer be an associate company of Adani Enterprises.

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