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BRIEF-First Pacific Co Announces Sale Of Goodman Fielder Investment

Reuters SG

March 11 (Reuters) - First Pacific Co Ltd:

* ANNOUNCES SALE OF GOODMAN FIELDER INVESTMENT

* UNIT OCEANICA TO SELL OCEANICA'S 50% STAKE IN FPW SINGAPORE TO WILMAR

* AGGREGATE PURCHASE PRICE PAYABLE UNDER SPA FOR SALE SHARES AND SHAREHOLDER'S LOANS IS US$300 MILLION

* TRANSACTION IS EXPECTED TO RESULT IN CO RECORDING A NON-CASH NON-RECURRING LOSS OF ABOUT US$280 MILLION IN 2019

* PROCEEDS FROM TRANSACTION WILL BE USED FOR DEBT REDUCTION, BEGINNING WITH A US$252 MILLION BOND MATURING IN SEPTEMBER 2020 Source text for Eikon: Further company coverage: