Dole (DOLE) announced that certain of its subsidiaries have entered into several agreements that when completed will result in the sale of Dole’s port and port operations in Guayaquil, Ecuador to Terminal Investment. Post completion, Dole will continue to utilize the port pursuant to an agreement with the Buyer to provide port terminal services, including the loading and discharging of containers. The sale is subject to regulatory clearance in Ecuador. The estimated net proceeds from the sale will be approximately $75M in cash, after costs and customary transaction completion adjustments.
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