Fyffes to hold EGM on 17 September to seek Chiquita merger approval

Tuesday 29 July 2014 07.48
The proposed company - ChiquitaFyffes - would be the world's biggest supplier of bananas
The proposed company - ChiquitaFyffes - would be the world's biggest supplier of bananas

Fyffes has called an extraordinary general meeting for 17 September in order to seek approval from shareholders for its proposed merger with Chiquita.

The food distributor said it would hold two special meetings in Dublin in just over seven weeks' time in order to ask shareholders to back the multi-billion euro tie-up, as well as a number of other measures related to the deal.

Chiquita will also hold a shareholder meeting on 17 September, in North Carolina, in order to seek approval from its stakeholders.

Fyffes and Chiquita announced a plan to merge in March, in a deal that would create the world's biggest banana supplier.

The combined operation - which is intended to be called ChiquitaFyffes - would have annual revenues of around $4.6bn and would be domiciled in Ireland.

Under the merger plan, Chiquita shareholders will own around 50.7% of the new company, with Fyffes shareholders taking the remaining 49.3%.

Both companies hope to complete the deal by the end of this year, however it is subject to a number of regulatory hurdles.