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.
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