The federal government has approved the foreign takeover of Australia's largest food maker, Goodman Fielder.
The Foreign Investment Review board says it has no objection to the $1.4 billion takeover by Singapore agribusiness Wilmar and Hong-Kong investment firm First Pacific.
But the deal is still awaiting regulatory approval from China and in September the company warned that that process was likely to take longer than expected.
Shareholders had been due to vote on the proposal by the end of December, but that meeting has been pushed back until the first quarter of 2015.
The deal also needs the go-ahead from New Zealand authorities and Goodman Fielder said the bidders were continuing to work on obtaining the necessary approvals.
"Goodman Fielder advises that Wilmar and First Pacific are continuing to progress the other regulatory approvals," the company said.
The takeover has already received approval from the Australian Competition and Consumer Commission.
Goodman Fielder owns a string of well-known food brands including Helga's bread, Meadowfresh milk and yoghurt, and White Wings baking products.
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