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European fresh produce company Total Produce, US-based fresh fruits and vegetable firm Dole Food Company (Dole) and affiliates of Castle & Cooke (C&C) have entered a binding transaction agreement to combine under a new US-listed company, Dole plc.
C&C shareholders hold a 55% interest in Dole Holdings, which is the parent company of Dole.
According to the agreement, Total Produce shareholders will receive 82.5% of Dole plc while C&C shareholders will receive 17.5% of shares in the new business entity.
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