The High Court agreed to the take-over purchase of Fyffes on Thursday. With that, the deal has overcome all the necessary hurdles and can be finalised. Earlier, the shareholders of Fyffes and the European competition watchdogs voted in favour of the deal. The Japanese Sumitomo will take over the Irish banana giant for 751 million euro.
On 2 March, the shareholders will be paid their money. Shares can no longer be traded as of today. Additionally, they will receive a two per cent dividend over last year’s results. David McCann and the other high-level managers will remain at the company for now, and will therefore be given an amount of three million euro to divide amongst themselves.