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TOP NEWS: Tate & Lyle in early talks to separate sweetener making arm
Mon, 26th Apr 2021 08:51
(Alliance News) - Tate & Lyle PLC on Monday confirmed it is exploring a break-up by selling a controlling stake in its Primary Products business.
A trimmed down Tate & Lyle would allow the units to focus their respective strategies and capital allocation priorities and create the opportunity for enhanced shareholder value .
A deal would allow Tate & Lyle to focus on its Food & Beverage Solutions arm, which develops ways to reduce sugar, fat and calories while adding fibre to products. The Primary Products arm produces industrial starches and sweeteners.
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Image courtesy of Tate & Lyle The company confirmed media reports that it may separate the unit from its food and beverage solutions business.
Ingredients firm Tate & Lyle is reportedly mulling a sale of the controlling interest in its Primary Products business. The unit manufactures corn sweeteners, dextrose, industrial starches, citric acid, ethanol, and other products. Reuters reported Monday that the company may shed the unit in a bid to hone its efforts on healthy food trends.
The London-based firm issued a statement Sunday confirming that it is “in the process of exploring the potential to separate its Food & Beverage Solutions and Primary Products businesses through a sale of a controlling stake.”