India's Adani Enterprises is exploring selling its stake in its consumer-staple joint venture with Wilmar International, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The conglomerate has been considering a potential sale of its 44% stake in Adani Wilmar for a few months, according to the report.
Indian billionaire Gautam Adani and his family may retain a minority stake in a personal capacity following a sale, while Wilmar could decide to retain its stake in the business, Bloomberg reported.
Deliberations are at an early stage and Adani Enterprises may decide to keep its stake, the report said.
Adani Enterprises and Wilmar did not immediately respond to Reuters' requests for comment.
Last week Adani Wilmar reported a first-quarter loss, hurt by a steep decline in edible oil prices
