Norway likes the look of Goodman Fielder

23 May, 2014 01:06 PM

NORGES Bank Investment Management has emerged on Goodman Fielder's register just one week after Wilmar and First Pacific secured a recommendation from the Goodman board for their $1.37 billion takeover for the food group.

According to an ASX filing on Friday Norges Bank, the investment manager of Norway's massive sovereign wealth fund, has built up a 5.06 per cent stake in the maker of Wonder White bread and Meadowlea margarine.

Last Friday Singapore oils trader Wilmar and Hong Kong investment group First Pacific raised their bid to 70c a share from 65c a share, with a 1c dividend to be paid to Goodman shareholders as a sweetener.

The Asian bidders heaped pressure on Goodman by demanding a decision and access to due diligence by 8pm Friday night and by securing partial sell downs from Goodman's two biggest shareholders Perpetual and Ellerston into the offer.

Norges Bank Investment Management manages the 5,110 billion kroner fund ($920 billion) generated from Norway's extensive oil wealth.

The fund has investments in 82 countries and around 8000 companies, or 1.3 per cent of the world's listed companies.



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Um er here's the bleeding obvious,regulation worked pretty well ay
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GM labels were never about safety but about the right for us to know what is in our food. People
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Livestock and cropping have always reduce the income risk for farming. My understanding having