Tate & Lyle disposes of storage businesses in Kenya and Tanzania

| Filed in:
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.

Click here for our press image gallery

About Tate & Lyle: 
Tate & Lyle PLC is a leading global provider of food and beverage ingredients and solutions. Supported by our 160-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients every day.

Through our expertise in sweetening, mouthfeel and fibre fortification, our Food & Beverage Solutions business develops solutions which reduce sugar, calories and fat, add fibre, and provide texture and stability in categories including beverages, dairy, bakery, soups, sauces and dressings. Our Primary Products business produces nutritive sweeteners, industrial starches used in paper and packaging, acidulants and products used for animal nutrition.

We have around 4,400 employees working in more than 60 locations across 30 countries. Tate & Lyle’s purpose is Improving Lives for Generations and through our purpose we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.

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 2021, Tate & Lyle sales totalled £2.8 billion. For more information, please visit https://www.tateandlyle.com or follow Tate & Lyle on TwitterLinkedin or Facebook.