This proposed transaction results from Dole’s previously announced strategic business review process, and is subject to Dole stockholder approval and customary regulatory approvals in multiple countries.
Cash proceeds from the transaction will be used by Dole for debt reduction, to pay deal-related expenses, and for restructuring and other corporate purposes.
The combined revenue of these businesses totalled approximately $2.5bn in 2011.
Source: Dole Food Company
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