Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
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
- Reserve Bank to press ahead with plans to carve out property investment lending
- Wool prices hold at elevated levels as volumes decline
- Why bureaucrats shut down Pike River case
- CPA Australia takes defamation case against rival accounting body NZICA
- Changing consumer habits lead to retail exodus in Tauranga’s CBD