In a significant strategic shift, the Adani Group has initiated the sale of its 44% stake in AWL Agri Business Ltd, formerly known as Adani Wilmar Ltd, marking its exit from the FMCG sector.
The firm has sold a 20% stake to Wilmar International, based in Singapore, for Rs 7,150 crore, demonstrating a decisive move to concentrate on its infrastructure ventures.
Adani Commodities LLP, a subsidiary of the conglomerate, plans to divest its remaining 10.42% stake, following a previous sell-off generating Rs 4,855 crore in January.
Adani Group's Strategic Exit: A Bold Move in FMCG Sector
Source: Viral Trending Buzz
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