Tate & Lyle May Sell Controlling Stake in Primary Products Unit

(Bloomberg) --

Tate & Lyle said it’s in the process of exploring the potential to separate its food & beverage solutions and primary products businesses through a sale of a controlling stake in its primary products business to a new long-term financial partner.

Discussions with potential new partners in the primary products business are at an early stage and therefore there can be no certainty that a transaction will be concluded, the company said in a statement.

Tate & Lyle started an auction for its primary products division, the Telegraph reported Saturday, citing people it didn’t identify. Primary products generated more than 1.8 billion pounds ($2.5 billion) of revenues last year, according to the report.

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