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 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 4,200 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 2020, Tate & Lyle sales totalled £2.9 billion. For more information, please visit http://www.tateandlyle.com or follow Tate & Lyle on TwitterLinkedin or Facebook.