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
Most listened to
- Labour leader Jacinda Ardern joins Simon Dallow in the NBR View studio this morning
- Housing strategist Leonie Freeman discusses the alarmingly low rates of new house builds in Auckland
- Jason Walls canvasses reaction to Labour exploring tax breaks for SME investment
- Synlait managing director John Penno on capacity constraints and supplying China
- NBR Radio: best of the week ended September 15, with Grant Walker