Chiquita confirms discussions for potential sale of banana operations in Colombia

Banana and fresh fruit marketer and distributor, Chiquita Brands International has confirmed reports that it is having discussions regarding the potential sale of its banana-producing and port operations in Colombia to Invesmar Ltd., the holding company of C.I. Banacol S.A. C.I. Banacol S.A. is a Colombian-based producer and exporter of bananas. The discussions also involve a potential long-term agreement for Chiquita's purchase of Colombian bananas. There can be no assurance that these discussions will lead to an agreement or a transaction. Chiquita currently produces approximately 11 million 20kg boxes of bananas in Colombia, which represents about 10 percent of its volume sourced from Latin America.