Arnott’s, a subsidiary of US food group Campbell Soup Co. has completed the sale of its operations in Papua New Guinea to two local government pension funds.

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The company said the pension funds had exercised their pre-emptive rights to purchase the operations, having previously been minority shareholders.


Financial terms were not disclosed. The transaction is not expected to have a material financial impact on Campbell, the US company said.


Before the funds excercised their pre-emptive option, Campbell had announced that Arnott’s had entered into a sale agreement with Goodman Fielder to purchase the operations.

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