Tuesday, December 11, 2001
What's the Buzz?
Acquisition of Chiquita reported
By Cliff Peale
The Cincinnati Enquirer
Chiquita Brands International Inc. would not comment Monday on a report in an Irish newspaper that speculated an Irish fruit distributor might try to acquire Cincinnati-based Chiquita.
Fyffes Plc might be lining up the bid while Chiquita is in a financial restructuring that includes a pre-arranged stay in Chapter 11 bankruptcy court, the Irish Independent reported.
Fyffes, a longtime and sometimes bitter rival of Chiquita, dismissed the report as speculation. Chiquita wouldn't even go that far, refusing to comment.
Chiquita is concentrating on erasing about half of its $1.3 billion debt from its balance sheet, and hopes to emerge from bankruptcy with new owners next spring.
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