Wilmar clinches final regulatory approval for $1.4b Goodman Fielder takeover bid

All it needs now is shareholder approval.

Mainboard-listed agribusiness giant Wilmar International and Hong Kong-based investment management and holding firm First Pacific have clinched the last regulatory approval that it needs to push through with its $1.4b (A$ 1.34b) acquisition of Goodman Fielder.

Wilmar revealed today that it has obtained consent under the New Zealand Overseas Investment Act for the proposed acquisition.

This comes just two days after Wilmar announced that it has clinched elusive approval from Chinese regulators.

Goodman Fielder will hold a shareholder meeting to consider and vote on the scheme of arrangement on Thursday 26 February 2015.

Provided that Goodman Fielder’s shareholders approve the scheme, the parties will seek orders from the Federal Court of Australia approving the scheme on Monday 2 March 2015.

On the current timetable, implementation of the scheme would follow on Tuesday 17 March 2015.