Tate and Lyle offloads share of Colombian JV
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, Organización Ardila Lülle.
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
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
NR
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published