Brazilian families to acquire Chiquita




Banana company Chiquita agreed to be acquired by Brazil's Cutrale and Safra families in a deal worth $1.3 billion,

the

Financial Times

reported.


José Luís Cutrale heads one of Brazil's largest orange juice groups, the


FT


article said. “Cutrale has been looking to diversify from the slowing orange juice market,” the article said.

The




Wall Street Journal




described

Safra Group as “a network of businesses controlled by Brazilian banking billionaire Joseph Safra.” Cutrale-Safra made three bids for Chiquita between August and late October, the


Journal


article said.


Chiquita shareholders rejected a merger with Irish food company Fyffes PLC. Fyffes will receive a termination fee of about $20 million, the


Journal


report said.

Chiquita will become a unit of the Cutrales-Safra group, the

Journal

article said. (Source:

Financial Times

, Oct. 28, 2014;

Wall Street Journal

, Oct. 28, 2014.

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