Adani Group withdraws from joint venture with Wilmar to promote infrastructure projects

In a strategic move, the Indian Adani Group has decided to exit its participation in the consumer goods joint venture with the Singapore-based company Wilmar International. Instead of continuing to invest in the consumer goods sector, Adani is now placing greater focus on its infrastructure projects. Adani Enterprises, the conglomerate's flagship, will divest its 13 percent stake in Adani Wilmar. The majority stake of 31 percent will go to Wilmar, who plans to acquire these shares for up to 305 rupees per share. This move marks a significant strategic realignment for Adani, which now intends to focus more on its core competencies in the infrastructure sector. In the past, the conglomerate had made substantial investments in this sector and plans to further expand these in the future.