Wilmar International, via its subsidiary Lence Pte, has applied for approval from the fair trade regulator CCI to purchase a 20 percent interest in AWL Agri Business Ltd from the Adani group, led by Gautam Adani. This request follows the Adani Group’s recent sale of a 20 percent stake in AWL Agri Business, previously known as Adani Wilmar Ltd, to Singapore-based Wilmar International for Rs 7,150 crore. This sale is part of Adani Group’s strategy to exit the FMCG sector and concentrate on its infrastructure business.
According to a notice submitted to CCI, the acquirer (Lence Pte Ltd) intends to acquire up to a maximum of 20 percent of the paid-up equity share capital, and at least 11 percent of the paid-up equity share capital of the target.