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European Commission clears Total Produce-Dole deal

Christian Fernsby |
On 17 February 2021, the board of Total Produce plc, Dole Food Company and affiliates of Castle & Cooke which own a 55% interest in DFC Holdings, the parent company of Dole Food Company, announced that they had entered into a binding transaction agreement to combine under a newly created, Irish incorporated, U.S. listed company, Dole.

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Total Produce is pleased to announce that the European Commission has now granted its clearance decision for the Transaction.

The waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), previously expired on 16 April 2021.

The European Commission clearance and the expiration, lapse or termination of the waiting period under the HSR Act constitute the two antitrust conditions under the Transaction Agreement, both of which conditions are now satisfied. The Transaction remains subject to approval by Total Produce shareholders, market conditions and other customary conditions.

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