Wilmar Acquires 20% Stake in AWL Agri Business from Adani for $860 Million: Ahmedabad, India — In a significant move within the Indian FMCG sector, Wilmar Group has agreed to acquire a 20% stake in AWL Agri Business Limited from Adani Group for a total consideration of ₹7,150 crore (approximately $860 million). The acquisition, which marks a major shift in the ownership structure of the prominent food and beverage conglomerate, was finalized through Wilmar’s wholly-owned subsidiary, Lence Pte. Ltd.
AWL Agri Business Limited, formerly known as Adani Wilmar, is a key player in India’s food sector, primarily known for its range of kitchen essentials such as cooking oils, rice, and other staples. The joint venture between Adani Enterprises and Wilmar International has been a dominant force in the FMCG industry since its inception in 1999.
Legal Expertise Behind the Deal
The legal aspects of the deal were handled by top Indian law firms, with Khaitan & Co advising Wilmar Group on the transaction. The core team from Khaitan & Co included Partners Karun Cariappa and Abhishek Dadoo, Counsel Gaurav Malhotra, and Senior Associate Gaurang Mansinghka. The firm also provided assistance on tax and competition law matters, with tax specialists Rahul Jain and Naveen Keshwani, and competition law experts Anshuman Sakle, Alisha Mehra, Tanveer Verma, Rishabh Vohra, Ritika Ghosh, and Sana Vaidya involved in various facets of the deal, according to a report.
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For Adani Group, the law firm Cyril Amarchand Mangaldas represented Adani Enterprises Limited and Adani Commodities Limited. Leading the team were Partners Anchal Dhir and Jay Parikh, supported by Principal Associate Ayushi Toshniwal, Senior Associate Varun Kannan, and Associate Priyamvada Sharma. The competition law aspects were managed by Avaantika Kakkar, Partner and Head of Competition, along with Associate Pushkar Singh, while the capital markets aspects were handled by Devaki Mankad, Partner and Regional Co-Head – Capital Markets (West), and Principal Associate Mansi Jhaveri.
Strategic Implications for AWL Agri Business
AWL Agri Business Limited’s extensive portfolio of products has made it a household name in India, where the company dominates several FMCG categories. With a strong presence in the domestic and international markets, the company has witnessed substantial growth in recent years, capitalizing on India’s increasing demand for food essentials and consumer goods.
The acquisition is expected to further solidify Wilmar’s position within the joint venture, allowing the company to benefit from AWL’s robust market footprint. The deal comes at a time when the FMCG sector is experiencing rapid growth, driven by changing consumer preferences and rising disposable incomes.
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In addition, the transaction is seen as part of a larger strategy by both parties to strengthen their foothold in the highly competitive food and beverage industry in India and abroad.
This transaction marks a critical development for both Wilmar Group and Adani Group, with far-reaching implications for AWL Agri Business Limited’s future. It not only shifts the balance of ownership but also reinforces the longstanding relationship between the two giants in the Indian FMCG sector. The legal expertise and guidance provided by Khaitan & Co. and Cyril Amarchand Mangaldas ensured the smooth negotiation and execution of the deal, which is poised to shape the trajectory of the Indian food industry in the years to come.
