Taking a big decision, Adani Group has decided to sell its entire stake in Adani Wilmar Limited Company. Such a claim is being made in the news. It is being said in the news quoting sources that this big deal can be done within a month. Adani Wilmar Company sells edible oil and other products under the name of Fortune brand. Adani Group has 43.97 percent stake in it.
Discussions with many big companies
Adani Group has started discussions with many multinational FMCG companies for this big deal. The company wants to complete this deal as soon as possible. Even at the beginning of the year, there were reports that Adani Group wants to sell its stake.
Adani and Wilmar have a joint venture
Adani Wilmar is a joint venture company. Adani Group and Singapore’s Wilmar International are stakeholders in it. Both the companies hold 43.97 percent stake in it.
The company wants to focus on other business
According to the information, this deal can be done for 2.5 to 3 billion dollars. Adani Group can invest this money in areas like infrastructure. Fortune brand holds a good share in the edible oil market. Apart from edible oil, other food items are also sold under the Fortune brand.
Let us tell you that Adani Group has not said anything officially about these speculations yet. Singapore’s Wilmar International has also not said anything officially about this. For Adani Group Year 2023 Something is not right. The year had begun for the group with a setback due to the Hindenburg Report. Due to the report, Adani Group companies had to suffer a loss of more than $100 billion in market capitalization. Gautam Adani had once become the third richest person in the world, but due to this report he was out of the top 30. Since then Adani Group has been focusing on consolidating the business.
Get more latest business news updates