Gilbert + Tobin and Herbert Smith Freehills have the lead roles on the $1.3 billion proposed acquisition of Australian food processor Goodman Fielder Ltd. by Singapore-based agribusiness Wilmar International Ltd. and Hong Kong investment company First Pacific Co. Ltd.

Wilmar, controlled by Malaysian billionaire Robert Kuok, and First Pacific currently hold a 19.9 percent share of Goodman Fielder, which is known in Australia for popular food brands such as Vogel’s bread, Meadow Fresh milk and MeadowLea butter. They will pay $0.64 apiece for the remaining shares they do not own.

Goodman Fielder’s board of directors has agreed to the proposal and recommended it to shareholders. The transaction, subject to both shareholder and regulatory approval, is expected to close by the end of the year. Upon completion of the deal, Wilmar and First Pacific will each control 50 percent of Goodman Fielder.

Sydney partner Peter Cook is leading a team at Gilbert + Tobin, which also includes Sydney partners Rachael Bassil, Andrew Crook and Elizabeth Avery, advising Wilmar and First Pacific.

Herbert Smith Freehills Sydney partner Tony Damian is representing Goodman.