Indian billionaire Gautam Adani and his family may retain a minority stake in a personal capacity following a sale, the people said. Wilmar, the Singapore-headquartered food conglomerate co-founded by billionaire Kuok Khoon Hong in 1991, could decide to retain its stake in the business, one of the people said.
Adani Enterprises is exploring selling its stake in its Mumbai-listed consumer-staple joint venture with Wilmar International, freeing up capital for their core business, according to people familiar with the matter.
The conglomerate has been considering a potential sale of its 44% stake in Adani Wilmar for a few months, the people said, asking not to be identified as the information is confidential. Adani’s shares are worth about US$2.6 billion at the current share price, according to Bloomberg calculations.
