{"id":46928,"date":"2023-08-10T17:10:33","date_gmt":"2023-08-10T21:10:33","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/adani-enterprises-weighs-exiting-6-billion-wilmar-venture-bloomberg-news\/"},"modified":"2023-08-10T17:10:36","modified_gmt":"2023-08-10T21:10:36","slug":"adani-enterprises-weighs-exiting-6-billion-wilmar-venture-bloomberg-news","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46928","title":{"rendered":"Adani Enterprises weighs exiting $6 billion Wilmar venture – Bloomberg News"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Workers transport tins of edible oil inside a storeroom of Adani Wilmar Ltd at Mundra, 375 km (233 miles) from the western Indian city of Ahmedabad, June 10, 2009. REUTERS\/Amit Dave\/File Photo<\/span>
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(Reuters) -India’s Adani Enterprises <\/span><\/span> (NS:) is exploring selling its stake in its consumer-staple joint venture with Wilmar International (SGX:), Bloomberg News reported on Tuesday, citing people familiar with the matter.<\/p>\n

The conglomerate has been considering a potential sale of its 44% stake in Adani Wilmar for a few months, according to the report. The India-based fast-moving consumer goods maker is currently valued at $6.17 billion.<\/p>\n

Indian billionaire Gautam Adani and his family may retain a minority stake in a personal capacity following a sale, while Wilmar could decide to retain its stake in the business, Bloomberg reported.<\/p>\n

Deliberations are at an early stage and Adani Enterprises may decide to keep its stake, the report said.<\/p>\n

Adani Enterprises and Wilmar did not respond to Reuters requests for comment, while Adani Wilmar said it would not like to comment on the report.<\/p>\n

Last week, Adani Wilmar reported loss in the first quarter, hurt by a steep decline in edible oil prices.<\/p>\n

Adani Group-linked stocks have lost nearly $147 billion in market value earlier this year after U.S. short-seller Hindenburg Research raised questions on the group’s corporate governance.<\/p>\n

Adani Group called Hindenburg’s report a “malicious attempt” at damaging its reputation.<\/p>\n

In May, a Supreme Court of India panel said it was “not possible” to conclude regulatory failure on allegation of price manipulation.<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Workers transport tins of edible oil inside a storeroom of Adani Wilmar Ltd at Mundra, 375 km (233 miles) from the western Indian city of Ahmedabad, June 10, 2009. REUTERS\/Amit Dave\/File Photo (Reuters) -India’s Adani Enterprises (NS:) is exploring selling its stake in its consumer-staple joint venture with Wilmar International (SGX:), […]<\/p>\n","protected":false},"author":1,"featured_media":2112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-46928","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nAdani Enterprises weighs exiting $6 billion Wilmar venture - Bloomberg News | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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