Tate & Lyle PLC - Sale of Booker Tate Limited

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Tate & Lyle PLC announces that it has sold its 50% interest in Booker Tate Limited ("Booker Tate"), a leading international agro-industrial management company, to Murray & Roberts Limited of South Africa. Iceland Group plc’s subsidiary, Booker plc, has similarly disposed of its 50% shareholding.

The gross cash consideration for 100% of Booker Tate is £12.2 million. After repayment of loans totalling £3.1 million, made equally to Booker plc and Tate & Lyle PLC by Booker Tate, the net cash consideration is £9.1 million.

Sale proceeds will be used to reduce Tate & Lyle 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 2019, Tate & Lyle sales totalled £2.9 billion. For more information, please visit http://www.tateandlyle.com or follow Tate & Lyle on Twitter or Linkedin.