Tate & Lyle PLC
28 December 2007 - Tate & Lyle PLC
Completion of sale of interest in Mexican sugar business
Tate & Lyle PLC announces that, following receipt of clearance under the Mexican
Federal Economic Competition Law, the sale by its Mexican subsidiary ('Tate &
Lyle Mexico') of its 49% shareholding in Grupo Industrial Azucarero de
Occidente, S.A. de C.V. ('Occidente') to E D & F Man Holdings Limited has now
completed.
The signing of the conditional agreement for the sale of Tate & Lyle Mexico's
interest in Occidente was announced on 8 October 2007. As previously announced,
the consideration for the sale is US$93 million (£47 million). The consideration
will be used to reduce Group debt.
For more information contact Tate & Lyle PLC:
Tim Lodge, Director of Investor Relations
Tel: 020 7626 6525 or Mobile: 07798 837317
Ferne Hudson, Head of Media and Public Relations
Tel: 020 7626 6525 or Mobile: 07713 067433
About Tate & Lyle:
Tate & Lyle is a world leading manufacturer of renewable food and industrial
ingredients. It uses innovative technology to transform corn and sugar into
value-added ingredients for customers in the food, beverage, pharmaceutical,
cosmetic, paper, packaging and building industries. The Company is a leader in
cereal sweeteners and starches, sugar refining, value added food and industrial
ingredients, and citric acid. Tate & Lyle is the world number-one in industrial
starches and is the sole manufacturer of SPLENDA(R) Sucralose.
Headquartered in London, Tate & Lyle is listed on the London Stock Exchange
under the symbol TATE.L. In the US its ADRs trade under TATYY. The Company
operates more than 50 production facilities throughout Europe, the Americas and
South East Asia. In the year to 31 March 2007, it employed 6,900 people in its
subsidiaries with a further 2,300 employed in joint ventures. Sales in the year
to 31 March 2007 totalled £4.0 billion. Additional information can be found on
http://www.tateandlyle.com.
SPLENDA(R) is a trademark of McNeil Nutritionals, LLC
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