Wilmar and Adani now hold 43.94% each in AWL, with the remaining 12.13% of the shares held by other shareholders of the Mumbai-listed company, described as India’s largest and leading edible oils and food FMCG company.
Wilmar International plans to raise its stake in Adani Wilmar (AWL) by buying over a portion of the shares now held by its partner Adani, in this joint venture.
According to Wilmar, it will have the option to pay Adani $1.95 billion, or 305 rupees per share, for the latter's 31.06% stake in AWL. The agreed price represents a discount to AWL's Monday closing price of 328.75 rupees.
