Wilmar International through its wholly-owned subsidiary Lence is acquiring 168,958,219 equity shares, or 13% of the existing paid-up equity share capital of AWL Agri Business, formally known as Adani Wilmar Limited.
The acquisition of AWL is at a sale price of INR 275 per AWL share, amounting to a total consideration or INR46.5 billion ($860 million), and Wilmar is expected to recognise a gain on deemed disposal of an associated company of about US$1.16 billion.
Based on the unaudited financial statements of AWL as at June 30, the Wilmar Group will recognise a negative net tangible assets attributable to AWL of approximately US$0.42 billion.
Adani Commodities (ACL) and Lence each own 259,935,721 equity shares and 571,019,435 equity shares of AWL, representing 20.00 % and 43.94% respectively, of the existing paid-up equity share capital of AWL. This aggregates to 63.94% of the paid-up equity share capital of AWL.
The balance 464,327,839 equity shares, representing 35.73% of AWL, is held by public shareholders and 4,395,610 equity shares, representing 0.34% of AWL, is held by non-promoter non-public shareholders.
Lence expects to complete the purchase of the 13% equity interest in AWL specified in the sale shares notice in November 2025, whereupon Lence will hold 56.94% of the existing paid-up equity share capital of AWL.
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The acquisition will be funded from internal sources as well as bank borrowings.
Shares in Wilmar International closed 4 cents higher or 1.212% up at $3.34 on Nov 11.
