Dole plc has announced that certain subsidiaries have entered into agreements that, once completed, will result in the sale of its port and port operations in Guayaquil, Ecuador, to Terminal Investment Limited Holding S.A.
Following completion of the transaction, Dole will continue to use the Guayaquil port under a separate agreement with the buyer. This agreement will cover port terminal services, including the loading and discharging of containers.
© Dole Plc
The transaction remains subject to regulatory approval in Ecuador. Dole estimates that net proceeds from the sale will amount to approximately US$75 million in cash, after transaction costs and customary closing adjustments.
The company stated that the agreements relate specifically to the port assets and operations in Guayaquil. No changes were announced regarding Dole's core produce production, sourcing, or marketing activities. After the sale, Dole will remain a port user rather than an owner at the Guayaquil facility.
Dole plc is listed on the New York Stock Exchange under the ticker DOLE and operates globally in the fresh produce sector, with activities spanning growing, sourcing, marketing, and distribution across multiple regions.
The company noted that the transaction includes customary conditions and risks. These include the possibility that regulatory approvals may be delayed or not granted, uncertainties related to the timing or completion of the transaction, and potential impacts on operations during the transition period. Dole also highlighted that management attention could be diverted during the transaction process and that the outcome could be influenced by legal, regulatory, or economic developments.
Dole emphasised that statements regarding the expected completion of the transaction and the estimated proceeds are forward-looking and based on current assumptions. Actual outcomes may differ depending on factors such as regulatory decisions, contractual conditions, or other developments affecting the transaction.
No timeline was provided for when the regulatory review in Ecuador is expected to conclude or when the sale may be finalised.
For more information:
James O'Regan
Dole
Tel: +353 1 887 2794
[email protected]
William Goldfield
Dole
Tel: +1 818 874 4647
Email: [email protected]
Brian Bell
Ogilvy
Tel: +353 87 2436 130
Email: [email protected]
