India, July 17 -- The Adani Group has offloaded a 20% stake in AWL Agri Business Ltd (formerly Adani Wilmar Ltd) to its joint venture partner Wilmar International, Singapore, for ?7,150 crore, as per a regulatory filing.
This transaction comes after Adani announced in December its intention to exit its entire 44% holding in Adani Wilmar to streamline focus on its core infrastructure operations.
Adani Commodities LLP (a subsidiary of Adani Enterprises Ltd) and Lence Pte Ltd (a subsidiary of Wilmar International) had entered into an agreement allowing each party the option to buy or sell their respective shares in Adani Wilmar at a mutually agreed price, capped at ?305 per share. Prior to the sale, both parties jointly held around 88% stake...