Transtasman consumer food company Goodman Fielder is a step closer to selling its fats and oils businesses having received offers from potential buyers.
The company said it is negotiating with regard to the proposed sale of the businesses and will update the market on progress before its November annual meeting.
The fats and oils businesses are said to be worth between $A250 and $A400 million with US food group Cargill and Dubai-based food and beverage group IFFCO rumoured as likely bidders.
Goodman Fielder announced plans to sell the business earlier this year.
Earlier this month Goodman Fielder announced it had raised $A500 million from a syndicated loan facility.
Over the past 18 months the company had successfully refinanced debt facilities of $A1,370 million. As at 30 June 2009, the company’s net debt was $A999 million.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Speculation over Hilary Barry's next move
- Latest polls support Peters’ prime ministerial ambitions
- Concession on fees sees ANZ first onboard for Apple Pay
- Facebook exec on info requests from NZ govt agencies: the numbers, and the criteria for forking over your data
- Antipodes email: Key calls Greens 'desperate'
Most listened to
- Listen to the week’s top business news on NBR Radio’s week in review
- Matthew Hooton on Winston Peters’ plan to become prime minister
- Tim Hunter asks: Is the government planning to hand control of water to iwi?
- Rob Hosking breaks down the political and economic week that was: Has everyone gone tax mad?
- Rodney Hide on the technological development and economic advance in transport