123161Landlords gain from rental yield increase, tenants’ budget gets spoiled!

The Adani Group is preparing to exit its FMCG (Fast-Moving Consumer Goods) business related to food, oil, and food and beverage items. It is reported that the company may sell its stake in Adani Wilmar. In this regard, the Adani Group is in talks with several companies. Adani Wilmar primarily sells food oil and packaged goods under the Fortune brand. The Adani Group holds a total stake of 43.97% in this company. According to media reports, the Adani Group may sell its stake for around $2.5-3 billion. The group aims to complete this deal within a month.

Adani Wilmar is a joint venture between the Adani Group and Singapore’s Wilmar International. Wilmar International also holds a 43.97% stake in Adani Wilmar. Additionally, there is a 12.06% public shareholding in the company. However, there has been no official statement from the Adani Group regarding this deal.

According to media reports, the Adani Group is currently focusing on infrastructure. The group is planning to exit several businesses as part of this plan. Therefore, the group may reducing its stake in Adani Wilmar. The group will use the proceeds to expand its business. Currently, there is no plan to use the funds to repay high debts.

Reports of the group divesting non-core assets to build a liquidity buffer have been circulating for the past few months. This came after a Hindenburg Research report, which led to a loss of $15 billion of investor wealth in Adani group stocks.