Dive Summary:
- Dole Food Company plans to wrap up the sale of its worldwide packaged foods and Asian fresh foods divisions to Japan-based Itochu Corp by early 2013.
- The deal, expected to be worth $1.68 billion, has been mired in regulatory proceedings in China over anti-trust laws.
- These concerns have been alleviated, and the two companies have the international go-ahead to complete the deal.
From the article:
Dole Food Company, Inc., expects to finalize the sale of its worldwide packaged foods and Asia fresh businesses to Japan-based Itochu Corp. by early 2013. The $1.685 billion cash transaction is awaiting regulatory approval in China, but has garnered the required regulatory approvals from six countries involved in the deal.
