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Tate & Lyle mulls split of food & beverage, primary products businesses
StockMarketWire.com
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Ingredients supplier Tate & Lyle confirmed that it was mulling a potential separation of its food & beverage and primary products businesses.
The separation, it added, may be done vie a sale of a controlling stake in the primary products business to a new long-term financial partner.
Tate & Lyle said it was responding to media speculation about a possible split.
'Tate & Lyle continues to successfully execute its strategy and remains confident in the future growth prospects of the company,' it said.
'However, the board believes that if a transaction of this nature was completed it would enable Tate & Lyle and the new business to focus their respective strategies and capital allocation priorities and create the opportunity for enhanced shareholder value.'
The company added that discussions with potential partners in the primary products business were at an early stage.
Story provided by StockMarketWire.com
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