LONDON (dpa-AFX) - Tate & Lyle Plc (TATYY.PK, TATE.L) said it agreed to sell its 50% stake in Sucromiles, its Colombian citric acid joint venture, to its long-standing partner in this business, Organización Ardila Lülle, for total cash consideration of $31.5 million.
Following completion of the sale, which is conditional upon Colombian competition authority approval, Tate & Lyle will continue to distribute citric acid products from Sucromiles outside the Colombian market.
Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from over 30 production facilities around the world.
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