Adani Enterprises to exit Adani Wilmar Ltd; AEL to raise over $2 billion

The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, November 21, 2024.
| Photo Credit: Reuters

Adani Enterprises has signed agreement with Wilmar International to exit Adani Wilmar Ltd Joint venture.

With this exit AEL will raise over $2 billion from the overall transaction, which includes two steps – OFS and the sale to Wilmar.

The proceeds will be utilised for growth of AEL in the core infrastructure businesses – Energy & Utility, Transport & Logistics along with Primary Industry adjacent businesses.

The transaction is expected to be consummated before 31 March 2025.