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Chiquita, Fyffes offer EU concessions for their $526 mln tie-up

Reuters - UK Focus

BRUSSELS, Sept 16 (Reuters) - U.S. fruit producer Chiquita Brands and Irish peer Fyffes (Other OTC: FYFFF - news) have offered concessions to European Union antitrust regulators to allay concerns that their proposed $526 million tie-up may reduce competition.

The merged entity will have 14 percent of the $7-billion global banana market, making it the world's biggest banana supplier with a significant negotiating power versus retailers.

The companies submitted proposals on Friday, the European Commission said on its website on Tuesday. The EU competition watchdog, which has set an Oct. 3 deadline for its decision, did not provide details in line with its policy.

Chiquita and Fyffes compete with Fresh Del Monte and Hawaii-founded Dole Food Company. (Reporting by Foo Yun Chee; editing by Robert-Jan Bartunek and Louise Heavens)