Adani Enterprises (AEL) on Monday, December 30 said that it will fully exit its consumer goods joint venture with Wilmar International - Adani Wilmar - wherein it holds a 44% stake.As part of the agreement, Lence Pte, a wholly-owned subsidiary of Wilmar International, will acquire 31.06% of the paid-up equity shares of Adani Wilmar from Adani Commodities, a wholly-owned subsidiary of Adani Enterprises.
“Adani Enterprises, Adani Commodities LLP (ACL), a wholly-owned subsidiary of AEL and Lence Pte Ltd (Lence), a wholly-owned subsidiary of Wilmar International have entered into an agreement on 30 December 2024 pursuant to which Lence will acquire all the paid-up equity shares of Adani Wilmar held by ACL as at the date of exercise of the call option or put option, as the case maybe, in respect of a maximum of 31.06% of the existing paid up equity share capital of Adani Wilmar,” the flagship Adani company said in a press release. Wilmar will acquire Adani's 31% stake at a price not exceeding ₹305 apiece, the companies informed via an exchange filing.