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Tate & Lyle PLC - London-based food and beverage ingredients provider - Completes the sale of a controlling stake in its Primary Products business in North America and Latin America and its subsidiaries, Primient, to New York-based investment company KPS Capital Partners LP. KPS now holds a 50% interest in Primient and has board and operational control. Tate & Lyle holds the remaining 50% interest in Primient. It intends to return £500 million to shareholders through a special dividend and associated share consolidation.
The $1.3 billion sale was first announced in July. It created two focused, standalone businesses, Tate & Lyle and Primient.
Current stock price: 729.80 pence, down 0.3% on Friday
12-month change: down 4.8%
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