Tate & Lyle disposes of storage businesses in Kenya and Tanzania

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Tate & Lyle PLC ("Tate & Lyle") announces the sale of East African Storage Company Limited ("EAS") of Kenya and Tanzania Liquids Storage Company Limited ("TLS") of Tanzania. The two storage businesses have been acquired by African Bulk Commodities Limited and Africa Tank Terminals Ltd respectively, both of Mauritius. At the end of March 2001 the value of the net assets of 100% of EAS and the 40% of TLS then owned by Tate & Lyle totalled £1.3 million. Prior to, and as a condition of, the disposal Tate & Lyle acquired the 60% of TLS which it did not previously own for £0.6 million. The proceeds of these disposals will be used to reduce Group debt.

About Tate & Lyle: 
Tate & Lyle is a global provider of solutions and ingredients for food, beverage and industrial markets.

Tate & Lyle operates through two global divisions, Food & Beverage Solutions and Primary Products, supported by the Innovation and Commercial Development and Global Operations teams. Food & Beverage Solutions is focused on growth by building leading positions globally in the categories of beverages, dairy, and soups, sauces and dressings. Primary Products is focused on delivering steady earnings and generating cash.

Food & Beverage Solutions consists of: Texturants, including speciality starches; Sweeteners, including low- and no-calorie sweeteners; and a Health and Wellness portfolio comprising mainly speciality fibres; and Stabilisers and Functional Systems, which are bespoke ingredient blends that ensure foods retain their structure.

Primary Products consists of high-volume sweeteners, industrial starches and fermentation products (primarily acidulants).  It also sells co-products from the corn milling process as animal nutrition.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2020, Tate & Lyle sales totalled £2.9 billion. For more information, please visit http://www.tateandlyle.com or follow Tate & Lyle on Twitter or Linkedin.