Tate & Lyle sells Mexican assets
- Published: 19 October, 2007
Page 12
Tate & Lyle Mexico is selling its 49% stake in Grupo Industrial Azucarero de Occidente to ED&F Man Holdings, owner of Man Sugar, for US$93m (£46m), subject to shareholder and competition authority approval.
Occidente operates three cane sugar mills in Mexico and Tate & Lyle's share of its operating assets is valued at £42m.
Its share of the business's operating profit for the year to 31 March 2007was £6m.
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