Sweeteners giant Tate and Lyle has reached agreement to sell its half-share in Sucromiles, its Colombian citric acid joint venture, to its long-standing partner in this business, Organizacin Ardila Llle.
Tate & Lyle sold its share for a total cash consideration of $31.5m (around £19.6m).
Following completion of the sale, which must first receive Colombian competition authority approval, Tate & Lyle will continue to distribute citric acid products from Sucromiles outside the Colombian market, the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
BoE: Millions of mortgage borrowers will be hit with higher repayments next year
News Higher interest rates are yet to fully hit households and monthly mortgage repayments will rise between £200 and £1,000 – how much will your home loan go up by?
By Marc Shoffman Published
Halifax: House prices rise for the second consecutive month
UK house prices rose again in November, suggesting a resilient property market amid economic turmoil in the past year- are we heading for a crash?
By Vaishali Varu Published