Message: Return type of CI_Session_null_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
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Adani Enterprises is set to exit its joint venture with Adani Wilmar, selling its 44% stake to Wilmar International. This move is expected to raise over $2 billion for Adani Enterprises, which will be used to boost investments in its core infrastructure platforms, including energy, utilities, transport, and logistics.
The transaction involves two steps: Adani Enterprises will sell 13% of Adani Wilmar to meet minimum public shareholding requirements, and Wilmar International will acquire the remaining 31% stake held by Adani Enterprises. This will mark Adani Enterprises' complete exit from the Adani Wilmar platform.
Adani Wilmar, with a market capitalization of Rs 42,785 crore (USD 5.0 billion), is well-positioned to benefit from its extensive operations, distribution network, and retail reach across India. The company has 100% urban coverage, presence in over 30,600 rural towns, and exports to over 30 countries globally.
The transaction is expected to be completed before March 31, 2025. Adani Enterprises' exit from Adani Wilmar is seen as a strategic move to focus on its core businesses and strengthen its position as India's largest listed incubator of platforms .
