Why is Adani Group selling its Adani Wilmar stake? Business News | Jagran News

Gautam Adani has decided to depart his joint venture with Singapore's Wilmar Group. People familiar with the situation tell Bloomburg that Adani Enterprises Ltd wants to focus on its main business. And he wishes to make it capital-free. As a result, the company is considering selling its investment in its Mumbai-listed consumer-staple joint venture with Wilmar International Ltd.

Adani will sell 44% stake

According to Bloomberg, Gautam Adani is considering selling a 44 percent interest in Adani Wilmar, which is worth approximately $ 2.7 billion at the current share price. This idea to sell a part in the corporation, however, is still in its early stages. This announcement from Adani Group comes amid allegations that the company intends to focus on its core business and enhance cash. However, Adani Group has refused to comment on the topic.

Adani Group is apparently preparing to depart the joint venture with Singapore-based Wilmar Group by selling this significant share in Adani Wilmar. Discussions over the stake sale are still in their early stages, and the report suggests that Adani Enterprises may decide to keep its investment. While Gautam Adani and his family sell this stake, B can keep the minority ownership in his personal capacity after the sale.