Chiquita Brands International has spoken of its satisfaction at the decision not to charge former and current executives over the company's protection payments to terrorist groups in Colombia.

Chiquita said the US Department of Justice has formally recommended that the District Court for the District of Columbia approve a settlement reached between the two sides in March.

Back in March, Chiquita agreed to pay a US$25m fine after admitting that it paid terrorist groups protection money in Colombia.

"Chiquita looks forward to putting this difficult chapter behind it," said chairman and CEO Fernando Aguirre. "We believe this is the right decision and one that reflects the good faith efforts of the company - and its officers, directors and employees - to address a very difficult situation involving the lives and safety of our employees."

The settlement was made after to an investigation into the banana company's dealings with right-wing paramilitary groups and leftist rebels in Colombia.