Safra Group and Brazil’s Cutrale have completed their acquisition of Chiquita Brands International Inc, putting the banana producer into private hands.
Charlotte, North Carolina-based Chiquita agreed in October to be acquired by investment firm Safra Group and juice company Cutrale Group for about $681m or $14.50 per share.
The companies had put the transaction’s value at about $1.3 billion, including the assumption of Chiquita’s debt.
Safra and Cutrale affiliate Cavendish Acquisition Corp has completed the tender offer and Chiquita stock is now being delisted from the New York Stock Exchange.
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