cargo

Chiquita Brands International Inc CQB.N agreed on Monday to a $682 million takeover by Brazilian juice maker Grupo Cutrale and investment firm Safra Group, with the U.S.-based banana producer going private early next year at the latest.

The acquisition is a victory for Brazilian-Lebanese financier Joseph Safra and orange juice baron Jose Luis Cutrale, who joined forces to add Chiquita to their tropical fruit business. Both tycoons fought for almost three months to win control of Chiquita, which rebuffed their three previous takeover attempts and sought to merge with rival Fyffes Plc (FFY.I).

Under terms of the accord disclosed in a statement earlier in the day, Charlotte, North Carolina-based Chiquita will become a wholly owned unit of Cutrale-Safra and remain incorporated in New Jersey once the deal is finalized. Chiquita, Fyffes, Fresh Del Monte Produce Inc (FDP.N) and Dole Food Co control the $7 billion global banana market.

If you want to deliver cargo by drone in the United States, the Federal Aviation Administration may have just grounded your plans. Under the recently released rules proposed by the FAA for operating non-recreational unmanned aircraft systems (UAS) under 55 pounds, delivery of packages by drone would be prohibited in the U.S. The FAA rules, as currently proposed, may be a death knell – at least in the U.S. – for projects such as the Prime Air package delivery service that Amazon has been testing for several years, as well as a similar project still in development by Google. According to the FAA, an operator will be required to maintain visual line of sight of a small drone at all times, or have an observer maintain visual contact with the UAS. The person flying the drone is considered the operator, according to the FAA. An operator has to be at least 17-years-old, pass an aeronautical knowledge test and obtain an FAA-approved UAS operator certificate. The operator has to pass the test every two years to maintain the certificate. – See more at: http://aircargoworld.com/Air-Cargo-World-News/2015/02/new-faa-rules-prohibit-cargo-delivery-drone/7029#sthash.MA4Ur2Z1.dpuf

Sara Group leads take over of Chiquita

FAA Rules prohibit cargo delivery by drone.

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