Wilmar finally clinches Chinese regulator’s approval for $1.4b Goodman Fielder takeover bid

After a number of delays.

Mainboard-listed agribusiness firm Wilmar International and Hong Kong-based investment management and holding firm First Pacific’s $1.4b (A$1.34b) bid to acquire ASX-listed baking company Goodman Fielder has finally been approved by Chinese regulators.

Wilmar International confirmed on a release to the SGX that the Anti-Monopoly Bureau of the Ministry of Commerce of the People’s Republic of China has granted approval under the Anti-Monopoly Law of the People’s Republic of China.

Wilmar and First Pacific are continuing to progress the remaining required regulatory approval which is the consent under the New Zealand Overseas Investment Act for the proposed acquisition.

The three firms had previously extended the deal’s long stop date by three months after stating that the process for obtaining regulatory approval from the Ministry of Commerce in the People’s Republic of China “is likely to take longer than initially anticipated”.

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