Chiquita Brands to buy Ireland's Fyffes

March 10 Mon Mar 10, 2014 3:45am EDT

March 10 (Reuters) - U.S. fruit distributor Chiquita Brands International Inc will buy Irish fruit firm Fyffes Plc in an all-stock deal valuing Fyffes at about $526 million to create the world's largest banana supplier.

Chiquita shareholders will own about 50.7 percent of the combined company, ChiquitaFyffes, while Fyffes shareholders will own the remaining 49.3 percent, the companies said in a statement on Monday.

Chiquita shareholders will get one share of the new company for each share held and Fyffes investors will get 0.1567 of ChiquitaFyffes shares for each Fyffes share, after the deal is completed.

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