Total Produce Plc European Commission clears investment in Dole (2055W)
July 30 2018 - 10:20AM
UK Regulatory
TIDMTOT
RNS Number : 2055W
Total Produce Plc
30 July 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION REGARDING
TOTAL PRODUCE PLC
30(th) July 2018
European Commission clears investment in Dole
On 1 February 2018, Total Produce plc, Europe's leading fresh
produce company, announced that it had entered into a binding
agreement to acquire a 45% equity stake in Dole Food Company(1)
("Dole") from Mr. David H. Murdock for a cash consideration of $300
million (the "Transaction"). Completion of the Transaction was
subject to anti-trust review in a limited number of
jurisdictions.
Total Produce is pleased to announce that the European
Commission (the "EC") has now adopted its clearance decision for
the Transaction and no further condition precedents are
outstanding.
The EC approval is conditional on the divestment of Saba Fresh
Cut AB (the Swedish bagged salad business owned by Dole). This
limited disposal has no material impact on the strategic rationale
or commercial value of the Transaction.
The Transaction is expected to close on 31(st) July 2018.
For further information, please contact:
Brian Bell, Wilson Hartnell PR
Tel: +353-1-669 0030
Ivan Murphy, Davy Corporate Finance
Tel: +353-1-679 6363
Inside information
The information contained in this announcement is inside
information. The person responsible for making this Announcement on
behalf of the Company is Frank Davis.
(1) References to the investment in the Dole Food Company mean
the investment into DFC Holdings LLC, of which Dole Food Company,
Inc. is a wholly owned subsidiary.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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