Fresh Del Monte Produce is to sell some 12m shares in the company to pay down debt, the US firm said today (1 November).

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The company is selling 5m shares, while the IAT Group is selling a further 7m shares in the business.


Earlier this week, Fresh Del Monte has posted a profit for the third quarter of the year on the back of rising banana sales.


The company, which booked losses of US$83.2m in the third quarter of 2006, recorded earnings of $25.9m this year. Profits came amid rising sales, which rose 3.8% to $757.1m.

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