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The approval of the Commission is conditional on the disposal of Saba Fresh Cut, the Swedish bagged salad company owned by Dole.
Total said yesterday that the sale of Saba would have no material impact on the strategic justification or the commercial value of the transaction.
The fresh produce distributor unveiled the acquisition of a 45pc tranche of Dole, one of the world's best banana and pineapple producers, in February, and plans to Investors for about 150 million dollars (127 million euros) to help finance the operation.
Total and the owner of Dole, 95-year-old billionaire David H Murdock, will run the company as a joint venture.
Total, a spin-out of Fyffes, and chaired by Carl McCann, has the opportunity to fully acquire Dole in five years.
However, the US company remains in debt with $ 1 billion in debt and posted a net loss of $ 16 million last year.
million. McCann said Total was "delighted" to close the substantial transaction
. is one of the world 's leading fresh produce companies and we look forward with great enthusiasm to working closely with David and his excellent management team to continue to develop the business at the same time. to come up. "
Total Produce achieved a turnover of € 4.3 billion
The company published adjusted earnings before interest, taxes, depreciation and amortization of € 83.5 million. [19659018] Total's shares lost 0.5 pc in the afternoon on the Irish Stock Exchange.
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