News

Agribusiness

Staff Reporter

, Singapore

Published:

1 year ago

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Wilmar International plans to increase stake in Adani Wilmar

It will acquire 403.7 million shares.

Wilmar International, via its subsidiary Lence, will acquire shares from Adani Commodities LLP (ACL) to increase its stake in Adani Wilmar Limited (AWL).

Lence will acquire 403.7 million shares, representing 31.06% of the existing paid-up equity share capital of Adani Wilmar Limited.

Currently, both parties share a 43.94% stake in AWL, India-based, while the public owns the remaining 12.13%.

Under the rules of the India stock exchange, Adani must maintain a free float of 25%. ACL must sell enough shares before the agreement can be completed.

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