Tate and Lyle offloads share of Colombian JV

published 20 April 2012

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.