Merger of Fyffes and Chiquita gets EC go-ahead

The European Commission has cleared the proposed merger between Fyffes and its US banana rival, Chiquita Brands — removing any regulatory barriers to a deal being concluded before the end of the year.

“This regulatory clearance represents a significant milestone for our proposed transaction to create the number one banana company globally,” Chiquita CEO, Ed Lonergan said yesterday in a joint statement with Fyffes chief David McCann.

The two added: “We have worked closely with the European Commission to address any concerns and [this] decision reaffirms our confidence that the combination of Chiquita and Fyffes is a natural strategic partnership, one that is now assured of a clear timeline to completion before the end of the year.”