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India's Adani Enterprises is looking at selling its stake in its joint venture with Wilmar International, Bloomberg News reported on Tuesday (8 August), citing people familiar with the matter. According to the Bloomberg report, the conglomerate has been considering a potential sale of its 44% stake in Adani Wilmar for a few months. The India-based consumer goods maker is currently valued at $6.17 billion. Adani partnered with Singapore's Wilmar International to set up the snacks, pulses and edible oils JV in 1999. In a Bombay Stock Exchange filing, Adani Wilmar said: “The company is not in a position to comment...As a policy, the company does not comment on media speculation.” Indian billionaire and founder of Adani Group, Gautam Adani, and his family, may retain a minority stake in a personal capacity following the potential sale, while Wilmar could decide to retain its stake in the business, according to the report. Last week, Adani Wilmar, which operates 23 plants across 10 states in India, reported a loss in Q1, partly owing to a decline in edible oil prices. Adani Group-linked stocks lost more than $145 billion in market value earlier in the year after US investment research firm Hindenburg Research raised questions about the group's corporate governance. Adani Group called Hindenburg's report a "malicious attempt" at damaging its reputation. Wilmar International has been contacted by FoodBev for comment.