Hong Kong-based investment management and holding company First Pacific and Wilmar International expect to complete the acquisition of Australian firm Goodman Fielder by 2015.
Goodman Fielder owns brands as Medow Lea, Praise, White Wings, Pampas, Mighty Soft, Helga's, Wonder White and Meadow Fresh.
First Pacific and Singapore-based Wilmar International through a 50:50 venture are taking over the Australian firm.
InterAksyon.com quoted First Pacific MD and CEO Manuel V. Pangilinan as saying on the acquisition of Goodman Fielder: "Most likely next year, because it's subject to a number of regulatory approvals."
Goodman Fielder accepted the $1.27bn takeover offer from Wilmar and First Pacific in July.
Wilmar is involved in oil palm cultivation, oilseed crushing, edible oils refining, sugar milling and has more than 450 manufacturing plants spread across 50 countries. First Pacific has principal businesses in telecommunications and infrastructure, consumer food products.
