Cyril Amarchand Mangaldas (CAM) is advising Adani Enterprises Limited and Adani Commodities LLP on the sale of ACL’s entire shareholding up to a maximum of 31.06% equity stake in Adani Wilmar Limited to Singapore based Lence Pte. Ltd.
The transaction is being led by Partners Anchal Dhir and Jay Parikh, with support from Principal Associate Ayushi Toshniwal. Partner.
Head of Competition practice, Avaantika Kakkar, is advising on competition-related aspects of the deal. Partner Devaki Mankad, along with Principal Associate Mansi Jhaveri, is advising on capital markets matters related to the transaction.
The agreement for the transaction was signed on December 30, 2024.
In December 2024, the Adani Group announced its decision to exit Adani Wilmar Limited (AWL), its consumer goods joint venture with Singapore’s Wilmar International. The group plans to divest its entire 44% stake in AWL through a $2 billion deal.
Specifically, a 31% stake will be sold to Wilmar International at a per-share price not exceeding ₹305, amounting to approximately $1.44 billion. The remaining 13% stake is expected to be offloaded in the open market to comply with India’s minimum public shareholding requirements.
The transaction is expected to be completed by March 2025.
The proceeds from this sale are expected to be channeled towards strengthening Adani Enterprises’ core infrastructure businesses, including energy, utilities, transport, and logistics.
