Fyffes has announced that it has completed the disposal of its interest in its property joint venture in Dundalk, Ireland.
The group indicated at the announcement of the preliminary results earlier this month that, with its partner Lagan Developments, it had agreed to dispose of this property.
The joint venture, which owned 26 acres of town centre lands, secured planning permission in 2003 for the construction of a 300,000 sq ft new shopping centre development on its site.
Fyffes has also entered into an agreement to sell lands in Kenmare, in the south-west of Ireland. These two transactions will contribute, in aggregate, exceptional profits for the produce multi-national in the order of €14m in 2004.
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