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Adani Enterprises to demerge food FMCG unit, posts strong Q1 profit
The Business Guardian
|August 02, 2024
The board of directors of Adani Enterprises has approved the demerger of its food FMCG business to Adani Wilmar Limited, alongside a strategic investment in Adani Commodities LLP.
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The demerger will unlock value for shareholders and allow Adani Enterprises to focus on sustainable growth in its incubating businesses. Adani Wilmar, known for offering essential kitchen commodities such as edible oil, wheat flour, rice, pulses, and sugar, is set to benefit from this move as the food FMCG business is already self-sustained and poised for further growth.
Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has a history of incubating and divesting emerging infrastructure businesses into successful entities, including Adani Ports and SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas, and Adani Wilmar. This strategic approach has consistently delivered substantial returns to shareholders.
This story is from the August 02, 2024 edition of The Business Guardian.
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