The Adani Group will sell its stake in consumer goods firm Adani Wilmar to joint venture partner Wilmar International for 123.14 billion rupees ($1.44 billion) as the Indian conglomerate sharpens its focus on infrastructure projects.

Gautam Adani’s group announced its complete exit from Adani Wilmar Ltd (AWL) on Monday (30 December), selling its entire 43.94 per cent stake in the Fortune brand FMCG joint venture to Singapore-based Wilmar International and through an open market sale.

Adani group is completely exiting Adani Wilmar Ltd by selling its 43.94% stake. A 31.06% stake will be sold to Wilmar International, raising Rs 12,314

India's Adani Wilmar fell over 6% in early trade on Tuesday, a day after the Adani Group said it would sell its entire 44% stake in the consumer goods company in a $2 billion deal to focus on strengthening its infrastructure businesses.

Adani Group announced its exit from the FMCG joint venture with Wilmar by selling its stake in Adani Wilmar for over USD 2 billion. The sale is part of its strategy to bolster its core infrastructure businesses.

Adani Wilmar exports products such as rice, castor oil and oleochemicals to over 30 countries. Read more at straitstimes.com.

India's Adani group is exiting its consumer goods joint venture with Singapore's Wilmar International in a $2 billion deal as it looks to bolster its infrastructure business.

Adani Enterprises Limited has decided to exit its 44 per cent stake in Adani Wilmar Limited in a phased manner. The first phase involves selling up to 31.06 per cent of its shares to Lence Pte Limited,

India's Adani group will exit the consumer goods joint venture with Singapore's Wilmar International in a deal valued at $2 billion as the Indian conglomerate focuses on core infrastructure business.