THE CLIFF NEWS

Adani Enterprises (AEL) has fully exited the Adani Wilmar JV, selling its 13% stake to meet the minimum public shareholding norm, with another 31% stake going to Wilmar International, a company filing informed stock exchanges on December 30. The divestment will raise proceeds worth over $2 billion, which Adani Enterprises said would be used in ‘core infrastructure platforms’. Adani Enterprises, Adani Commodities LLP (ACL) and Wilmar International’s subsidiary Lence entered into an agreement, as per which Lence will acquire 31.06% stake in Adani Wilmar held by ACL, said the company statement. The other part of the transaction involves Adani Enterprises divesting around 13% of its stake in Adani Wilmar to achieve compliance with minimum public shareholding requirements. With this, AEL will be selling a total of 44% stake in Adani Wilmar as part of the exit, and Wilmar International will acquire up to 31% held by Adani Enterprises in Adani Wilmar, said the statement. “…with the completion of these two legs, AEL would completely exit its ~44% holding in Adani Wilmar,” it added.

starring Varun Dhawan, Keerthy Suresh, and Wamiqa Gabbi, released on Christmas but has struggled at the box office. A report stated that the film is now facing competition from the Malayalam movie Marco, whose Hindi version is replacing Baby John’s screenings in North India.Marco, released on December 20, has received positive reviews despite its violent content. The film’s strong performance led Unni Mukundan to announce on X (formerly Twitter) that over 140 additional shows in Hindi were being added due to its success. Bollywood Hungama reported that there is growing curiosity around Marco, with many viewers comparing its intense violence to that of Sandeep Reddy Vanga’s Animal (2023), which some believe appears less violent in comparison. As a result, there has been increased demand for Marco, leading to its shows replacing those of Baby John, as well as films like Pushpa 2 and Mufasa: The Lion King. Do you think the Hindi version of Marco will do well compared to Baby John? Baby John also faced tough competition from Pushpa 2: The Rule, which, despite entering its 4th week, continues to perform strongly at the box office.Marco is performing well at the box office, having earned Rs 29.9 crore net in India and Rs 57 crore worldwide, according to Sacnilk. The film, directed by Haneef Adeni, is known for its intense violence and will have a Telugu release on January 1, further boosting its earnings.Baby John, directed by Khalees and produced by Atlee, is a remake of the Tamil film Theri. However, the film has faced criticism for not meeting expectations. It has reportedly earned Rs 19.65 crore net in India and Rs 27.60 crore worldwide, according to trade sources.

A passenger plane burst into flames Sunday after it skidded off a runway at a South Korean airport and slammed into a concrete fence when its front landing gear apparently failed to deploy, killing at least 151 people, officials said, in one of the country’s worst aviation disasters. The National Fire Agency said the fire was almost put out but officials were still trying to pull people from the Jeju Air passenger plane carrying 181 people at the airport in the town of Muan, about 290 kilometers (180 miles) south of Seoul. Emergency workers pulled out two people — one passenger and one crew member. It said it deployed 32 fire trucks and several helicopters to contain the fire. Footage of the crash aired by YTN television showed the Jeju Air plane skidding across the airstrip, apparently with its landing gear still closed, and colliding head-on with a concrete wall on the outskirts of the facility. The transport ministry said the incident happened at 9:03 am local time. Emergency officials said they were examining the cause of the fire. They said the plane’s landing gear appeared to have malfunctioned. The Transport Ministry said the plane was returning from Bangkok and its passengers include two Thai nationals. It’s one of the deadliest disasters in South Korea’s aviation history. The last time South Korea suffered a large-scale air disaster was in 1997, when an Korean Airline plane crashed in Guam, killing 228 people on board