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China/Australia: Food manufacturer gets approval for $1.4 billion takeover of Goodman Fielder

 |  February 16, 2015

Edible oil maker Wilmar International said on Monday that China has given the green light to a $1.41 billion takeover of Goodman Fielder by a consortium comprising itself and Hong Kong investment manager First Pacific Company.

The deal to acquire the Australian food manufacturer, first announced in July last year, was granted approval by the anti-monopoly bureau of China’s Ministry of Commerce, Wilmar said.

Australia’s foreign investment watchdog and the Australian Competition and Consumer Commission cleared the bid last year.

The deal still needs approval from New Zealand’s Overseas Investment Office.

Full Content: The Australian Business Review


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