Australian food manufacturer Goodman Fielder is mulling over three bids for its flour-milling assets.
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According to a report in the Sydney Morning Herald, the shortlisted bidders are grain traders AWB and Ausbulk, and a joint venture between Graincorp and Cargill of the US. The assets are valuead at between A$150m and A$200m (US$85.6 – 114.1m.
As none of the bidding parties is already involved in flour milling, the local competition authorities are expected to look favourably on whichever bid Goodman Fielder prefers.
The Company’s ten mills were put on the market early this year, and the outcome of the sale could be known as early as September. News of the proposed sale prompted a 20% rise in Goodman Fielder’s share price in the first half of 2002, closing at A$1.68 on 7 June.
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