Tate & Lyle to sell stake in commercial sweetener unit in $1.7 bln deal
July 12 (Reuters) - Tate & Lyle Plc said on Monday it had agreed to sell a controlling stake in its commercial sweeteners business in a deal that values the new standalone unit at $1.7 billion, including debt.
The London-listed firm, one of the world's biggest producers of sweeteners, said Tate & Lyle and KPS Capital Partners would each own 50% of the new company, while the private equity firm will have operational and board control. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich)
