Goodman Fielder, Cargill scrap edible oil deal
Australian food manufacturer Goodman Fielder has terminated the sale of its edible fats and oils division to Cargill after regulators opposed the deal.The Australian Competition and Consumer Commission (ACCC) said in March that it planned to oppose the A$240m (US$238.5m) sale as it would lead to a “significant concentration of refining assets in Australia”.
The ACCC said a deal would also remove “one of only a small number of competing refiners that offer a wide range of fats and oils products”.
Goodman Fielder announced on Friday (12 November) that, despite further submissions to the ACCC, the regulator still intends to oppose the transaction and that the two companies have decided to formally terminate the sale agreement.
Goodman Fielder insisted it had anticipated the decision and has moved to “develop and substantially restructure the business to maximise profitability”.
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I read in a newspaper report that Malaysian Palm Oil Council is selling used palm oil as edible oil to various nations in the world. The news item is available here: http://www.weeklyblitz.net/1122/threatening-tactics-of-mpopc
The report claims that consuming used palm oil is hazadous to human health. In this case, why Malaysian government is allowing selling such oil to other nations?