Trending 3 months, 2 weeks ago

Adani Enterprises to exit JV with Wilmar in first big move since US indictment

Adani Enterprises Limited on Monday announced its decision to exit its joint venture with Wilmar International Limited through a comprehensive divestment of its stake in Adani Wilmar Limited, the company said in a statement. This marks the Gautam Adani-led company’s first significant transaction since the US Department of Justice indicted the Adani Group in November. With this, the Adani Group aims to strengthen AEL’s incubation capacity, enabling sharper focus on its consumer services divisions, such as Adani Airports and Adani Digital. Additionally, other companies of the group, including Adani Energy Solutions Limited, Ambuja Cements Limited, and Adani Green Energy Limited, collectively raised approximately $2 billion in the same period, bringing the total to $4.5 billion.

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