Adani Enterprises Ltd. is exploring selling its stake in its Mumbai-listed consumer-staple joint venture with Wilmar International Ltd., freeing up capital for their core business, according to people familiar with the matter.
The conglomerate has been considering a potential sale of its 44% stake in Adani Wilmar Ltd. for a few months, the people said, asking not to be identified as the information is confidential. Adani’s shares are worth about $2.6 billion at the current share price, according to Bloomberg calculations.
Indian billionaire Gautam Adani and his family may retain a minority stake in a personal capacity following a sale, the people said. Wilmar, the Singapore-headquartered food conglomerate co-founded by billionaire Kuok Khoon Hong in 1991, could decide to retain its stake in the business, one of the people said.
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