Tate & Lyle sells East Asia Properties Ltd (EAP)

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Tate & Lyle PLC ('Tate & Lyle') announces the sale of its 15% stake in East Asia Properties Ltd ('EAP') to East Asia Sugar Investment Ltd a subsidiary of the majority shareholder, the Mitr Phol Sugar Corporation Ltd. EAP is a holding company and owns majority stakes in five sugar factories in China.

The book value of Tate & Lyle's investment was £3.6 million at 31 March 2001. The proceeds will be used to pay down group debt.

The disposal is another example of Tate & Lyle delivering on its strategy to divest of non-core businesses.

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 £2.8 billion. For more information, please visit http://www.tateandlyle.com or follow Tate & Lyle on Twitter or Linkedin.