Cutrale and Safra make offer for Chiquita Brands

Mon Aug 11, 2014 9:29am EDT

Aug 11 (Reuters) - Juice maker Cutrale Group and Brazilian investment firm Safra Group said on Monday they had offered to acquire Chiquita Brands International Inc in a cash offer that valued the banana distributor's equity at $610.5 million.

Cutrale and Safra said they would offer $13 per share in cash to Chiquita shareholders, a 29 percent premium to Chiquita's closing price on Aug. 8.

The two companies also said their proposal had been sent to Chiquita's board of directors and urged the company to enter negotiations that will lead to the signing of a definitive transaction agreement. (Reporting by Greg Roumeliotis and Olivia Oran in New York)