Chiquita Expresses Interest in Purchasing Doskocil Stock

Article excerpt


Special to The Journal Record

HUTCHINSON, Kan. - Doskocil Companies Inc. has received preliminary indication of interest in acquisition of a substantial minority equity interest in the reorganized Doskocil by Chiquita Brands International Inc., a subsidiary of American Financial Corp. of Cincinnati, Ohio.

Doskocil filed for protection under Chapter 11 of the U.S. Bankruptcy Code on March 5, 1990. Chiquita is interested in acquiring an interest in Doskocil stock after the Hutchinson, Kan.-based firm, which owns Wilson Foods Corp. in Oklahoma City, completes its reorganization.

Doskocil stated in a news release that it is contemplated that this would occur pursuant to an exchange of shares of Chiquita common stock for equity interest in reorganized Doskocil. The indication of interest is only preliminary in nature and is subject to numerous conditions, including a detailed due diligence review by Chiquita.

The completion of any transaction would be contingent upon Doskocil's confirming and substantially consummating a plan of reorganization. …


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