Wilmar Intl awaits CCI nod for 20% buyout in AWL Agri

New Delhi: Wilmar International, through its arm Lence Pte, has sought approval from the fair trade regulator CCI to acquire a 20 per cent stake in AWL Agri Business Ltd from the Gautam Adani-led Adani group.

The move came after Adani Group last month announced that it had sold a 20 per cent stake in AWL Agri Business (formerly Adani Wilmar Ltd) to Singapore-based Wilmar International for Rs 7,150 crore, as part of its decision to exit the FMCG business and focus on its infrastructure vertical.

“The acquirer (Lence Pte Ltd) proposes to acquire up to a maximum of 20 per cent of the paid-up equity share capital, and a minimum of 11 per cent of the paid-up equity share capital of the target,” according to a notice filed with CCI.