Wilmar this morning announced it was planning to buy a 50% stake in First Pacific Wilmar (FPW) from First Pacific Singapore Holdings for US$275 million. FPW owns 100% stake in GF. The deal is expected to be completed in 4Q19 and that it will result in First Pacific recording a non-recurring loss of about US$280m.
SINGAPORE. (Mar 12): CGS-CIMB Research is “neutral” on Wilmar's plans to buy the remaining 50% stake in Goodman Fielder (GF) as the acquisition deal should not impact near-term earnings.
The GF group is a regional food company across Australia, New Zealand and Asia Pacific. It manufactures and sells a wide range of food products. The company also owns brands such as Wonder White bread, Meadow Lea margarine and Praise mayonnaise.
