AUS: Cargill pulls bid for Goodman Fielder unit
The US agribusiness giant told just-food it had withdrawn its bid due to "concerns raised in the market". The decision is the latest twist in the potential sale of the Goodman Fielder unit. In May, Cargill made its second attempt to buy the business after regulators turned down an initial move two years ago.
Cargill said it remained "confident" its existing fats and oils business could "provide value" to customers in Australia and New Zealand.
"Despite this decision, Cargill remains well placed and fully committed to serve our customers in Australia and New Zealand," a spokesperson for Cargill's business in Australia and New Zealand said. "We are confident that with our advanced fats and oils technologies, broad portfolio of food ingredients and application expertise, we will continue to provide value to our customers in the region and enable sustained profitable growth of our food ingredients business."
Commodity trader Glencore has said it wants to be a "true leader" in global grain trading after completing its acquisition of Viterra in a deal worth US$6bn....
Cargill has snapped up Indian cooking oil brand Sunflower from local FMCG group Wipro....
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