Chiquita Brands International accepted a $682 million cash offer from orange juice producer Cutrale Group and holding company Safra Group three days after its own shareholders voted down a planned inversion deal with Fyffe. Skadden and Kirkland & Ellis advised Chiquita, while Cravath represented to Cutrale and Safra.
October 27, 2014 at 09:55 PM
1 minute read
Chiquita Brands International on Monday accepted a $682 million cash offer from two Brazilian bidders—orange juice producer Cutrale Group and holding company Safra Group—three days after its own shareholders voted down a planned inversion deal with Irish rival Fyffe plc.
Cutrale and Safra would assume Chiquita’s outstanding debt as part of the deal, bringing the total value of the transaction to $1.3 billion.
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