Adani, Wilmar to Start Stake Sale in Joint Venture Next Month [Financial Post (Toronto, Ontario, Canada)]
WILMAR INTL LTD UNSP/ADR (WLMIY)
NASDAQ:AMEX Investor Relations:
ir-media.wilmar-international.com
Company Research
Source: Financial Post
Ltd. as early as next month to abide by shareholding regulations, according to people familiar with the matter. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Adani Enterprises Ltd. and Wilmar International Ltd. are expected to start the sale of a minority stake in their consumer joint venture Adani Wilmar Ltd. as early as next month to abide by shareholding regulations, according to people familiar with the matter. The majority owners of Adani Wilmar are planning to sell a roughly 13% interest in the company — valued at about $735 million based on the current stock price – to comply with Indian securities laws, the people said, asking not to be identified discussing confidential information. Local regulations require at least a 25% shareholding should be with non-founders within three years of listing. Since the flagship of billionaire Gautam Adani's conglomerate and Wilmar hold almost 44% e
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