Tate & Lyle fined £18m for EU sugar deal

Tate & Lyle has been fined £18m over the 2010 sale of its EU sugars business to American Sugar Refining (ASR). 

American Sugar Holdings, part of ASR Group, had sued for claims totalling around £40m at London’s Commercial Court in relation to the £211m deal in September 2010.

Tate & Lyle revealed yesterday that the court had found in favour of ASR on two elements of its claim, awarding damages of £18m. Interest and costs are yet to be determined.

The claim was initially disclosed in Tate & Lyle’s annual report in 2012 and the expected announcement of this judgement was highlighted in its trading statement on 29 July 2015. 

Want more stories like this in your inbox?

Sign up for our FREE email newsletter

Keywords:

My Account

Spotlight

Most read

Social