Pins matching tag:Adani

Wilmar's Lence Pte signs an option to buy up to 31.06% of Adani Wilmar from Adani Commodities at no more than Rs 305 a share, while Adani sells about 13% to the public, ending the Adani half of the Fortune joint venture.

Adani Commodities sells 175.6 million Adani Wilmar shares over two days on BSE and NSE, lifting public ownership to 25.3% as the first leg of the Adani Group's exit.

The maker of Fortune cooking oil drops the Adani name and becomes AWL Agri Business Limited under a fresh certificate of incorporation, as agreed in the Adani exit deal.

Lence Pte agrees to buy between 11% and 20% of AWL Agri Business from Adani Commodities at Rs 275 a share, replacing the December option, while Adani places its other 10.42% with investors.

Lence Pte completes its purchase of 168,958,219 AWL Agri Business shares from Adani Commodities at Rs 275 each, about Rs 46.5 billion, making the Fortune maker a 56.94%-owned Wilmar subsidiary.

Adani Commodities sells its final 90,977,502 AWL Agri Business shares in a bulk deal on the exchange floor, leaving Wilmar as the Fortune maker's only promoter group.