Tate and Lyle Offloads Share of Colombian Citric Acid JV
Following completion of the sale, which is conditional upon Colombian competition authority approval, Tate & Lyle will continue to distribute citric acid products from Sucromiles outside the Colombian market.
20 April 2012 --- Tate & Lyle has announced that it has reached agreement to sell its 50% share in Sucromiles, its Colombian citric acid joint venture, to its long-standing partner in this business, Organización Ardila Lülle, for a total cash consideration of US $31.5 million (£19.6m).
Following completion of the sale, which is conditional upon Colombian competition authority approval, Tate & Lyle will continue to distribute citric acid products from Sucromiles outside the Colombian market.
Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from over 30 production facilities around the world.
