TATYF - Tate & Lyle seeks the sale of controlling stake in primary products business unit

Europe's leading sugar producers, Tate & Lyle (TATYF) is exploring the sale of a controlling stake in its largest unit, primary products business; discussions are at an early stage and there's no certainty that a deal will be concluded.As per the annual report, the primary products division generated ~$2.2B in revenue in FY20, or more than 60% of the total.The company now focuses on food ingredients, including sweeteners like Splenda and Tasteva.The company said in a statement, "it continues to successfully execute its strategy and remains confident in the future growth prospects of the company. Transaction would enable Tate & Lyle and the new business to focus their respective strategies and capital allocation priorities."

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Tate & Lyle seeks the sale of controlling stake in primary products business unit