- The Washington Times - Monday, March 10, 2014

The American company Chiquita has struck a deal with the Irish Fyffes to create ChiquitaFyffes, the world’s largest banana firm with an approximate worth of $1 billion.

“This is a milestone transaction for Chiquita and Fyffes that brings together the best of both companies,” said Chiquita head Ed Lonergan, in BBC.

The newly formed company will be listed in New York, and shareholders will get shares in both firms, BBC reported. Fyffes‘ shareholders will own just at 49.3 percent of the merged firm, BBC said.

The deal was made with both cost cuts and expansions in mind, Mr. Lonergan said.