Wilmar International has received Competition Commission of India's (CCI) approval to acquire up to 20% stake in AWL Agri Business from Adani Group. Wilmar International, through its arm Lence Pte, is acquiring the stake in AWL Agri Business.
The proposed transaction involves acquisition of up to a maximum of 20% of the paid-up equity share capital, and a minimum of 11% of the paid-up equity share capital of the target (AWL Agri Business) by the acquirer (Lence Pte). Wilmar, through Lence Pte, holds a 43.94% equity stake in AWL Agri Business.
AWL Agri Business is one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar.
