Khaitan, CAM act on Wilmar acquiring 20% stake in AWL Agri Business from Adani for ₹7,150 crore

Wilmar Group, through its wholly owned subsidiary Lence Pte. Ltd., is set to acquire up to 20% in AWL Agri Business Limited held by Adani Group for a total consideration of ₹7,150 crore.

Khaitan & Co advised the Wilmar Group on this transaction. The firm advised on legal aspects of the transaction, negotiation and finalization of the transaction documentation.

The core team consisted of Karun Cariappa (Partner), Abhishek Dadoo (Partner), Gaurav Malhotra (Counsel) and Gaurang Mansinghka (Senior Associate) with assistance from the following:

Tax related aspects: Rahul Jain (Partner) and Naveen Keshwani (Associate);

Competition law aspects: Anshuman Sakle (Partner), Alisha Mehra (Principal Associate), Tanveer Verma (Principal Associate), Rishabh Vohra (Senior Associate), Ritika Ghosh (Associate) and Sana Vaidya (Associate).

Cyril Amarchand Mangaldas advised Adani Enterprises Limited and Adani Commodities Limited on this transaction.

The transaction team was led by Anchal Dhir (Partner) and Jay Parikh (Partner), with assistance from Ayushi Toshniwal (Principal Associate), Varun Kannan (Senior Associate) and Priyamvada Sharma (Associate).

Avaantika Kakkar (Partner, Head - Competition) and Pushkar Singh (Associate) advised on competition law aspects of the transaction.

Devaki Mankad (Partner, Regional Co-Head - Capital Markets - West) and Mansi Jhaveri (Principal Associate) advised on capital markets aspects of the transaction.

AWL Agri Business Limited, formerly known as Adani Wilmar, is a prominent Indian multinational food and beverage conglomerate headquartered in Ahmedabad. Founded in 1999 as a joint venture between Adani Enterprises and Wilmar International, the company has established itself as a leader in the FMCG sector, particularly in the food industry. AWL Agri Business is recognized for its extensive range of essential kitchen commodities, including cooking oils, rice, and other staples, catering to both domestic and international markets.

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