Fyffes Takeover Completed As Scheme Becomes Effective

LONDON (Alliance News) - Fyffes PLC late Friday said the scheme of arrangement facilitating the ...

Alliance News 17 February, 2017 | 5:11PM
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LONDON (Alliance News) - Fyffes PLC late Friday said the scheme of arrangement facilitating the takeover of the business by Japan's Sumitomo Corp has become effective, meaning its shares will be cancelled from trading on AIM on Monday.

Fyffes said its board members have resigned following the completion of the takeover, with the new board appointed by Sumitomo taking their place.

Fyffes is being taken over for EUR751.4 million by Sumitomo, which is a vast Japanese conglomerate, with interest ranging from plantation operations in the Philippines to retail distribution across Asia.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Fyffes PLC
Fyffes PLC 2.24 EUR 0.00
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