26 April 2021 | 07:10am
StockMarketWire.com - Ingredients supplier Tate & Lyle confirmed that it was mulling a potential separation of its food & beverage and primary products businesses.
The separation, it added, may be done vie a sale of a controlling stake in the primary products business to a new long-term financial partner.
Tate & Lyle said it was responding to media speculation about a possible split.
'Tate & Lyle continues to successfully execute its strategy and remains confident in the future growth prospects of the company,' it said.
'However, the board believes that if a transaction of this nature was completed it would enable Tate & Lyle and the new business to focus their respective strategies and capital allocation priorities and create the opportunity for enhanced shareholder value.'