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
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