SAO PAULO (Reuters) – Brazilian juice maker Grupo Cutrale and investment firm Safra Group agreed on Monday to acquire U.S.-based banana producer Chiquita Brands International Inc in a deal valued at $1.3 billion (807.1 million British pounds).
Cutrale-Safra, which had offered to pay $14.50 per share of Chiquita in cash, said in a statement that the transaction is not subject to any financing conditions. Once the transaction is closed, Chiquita will become a wholly owned subsidiary of Cutrale-Safra, the statement added.
The agreement was unanimously approved by Chiquita’s board, the statement said.
(Reporting by Guillermo Parra-Bernal and Sruthi Ramakrishnan Editing by W Simon)
Cutrale-Safra to acquire Chiquita in deal valued at $1.3 billion
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