Chiquita concludes sale
of refrigerated vessels
Jun 20, 2007 9:53 AM
Chiquita Brands International Inc has completed the previously announced sale of its 12 refrigerated cargo vessels for $227 million. The cash proceeds from the transaction are being used to repay approximately $170 million of debt, and the rest will be retained for general corporate purposes, including growth investments or future debt repayments.
The ships have been chartered back from an alliance formed by Eastwind Maritime Inc. and NYKLauritzenCool AB. The parties also entered a long-term strategic agreement in which the alliance will serve as Chiquita's preferred supplier in ocean shipping to and from Europe and North America.
