Wilmar, First Pacific's acquisition of Goodman Fielder delayed

Shares of the three entities fall on news of the three-month extension

Published Mon, Sep 8, 2014 · 10:00 PM
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SHARES of Wilmar International, First Pacific and Goodman Fielder fell on Monday after the three said they were pushing back the date by which Wilmar and First Pacific's acquisition of Goodman Fielder will be implemented.

Wilmar International fell three Singapore cents, or almost one per cent, to S$3.14 in Singapore; Goodman Fielders' shares dropped one Australian cent, or 1.56 per cent, to A$0.63 in Australia; First Pacific slipped seven Hong Kong cents, or 0.74 per cent, to HK$9.37 in Hong Kong.

The long-stop date for implementing the scheme of arrangement has been pushed back from Dec 31 this year to March 31 next year, as the process to obtain regulatory approval from the Ministry of Commerce in China is now expected to take longer than initially thought. Wilmar said it could not elaborate further when asked for more details.

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