Tate & Lyle Completes Re-Alignment Of Eaststarch Joint Venture
Tate & Lyle PLC announces that it has completed the transaction to re-align the…
Tate & Lyle PLC announces that it has completed the transaction to re-align the Eaststarch corn wet milling joint venture in Europe with Archer Daniels Midland Company (ADM). The signing of the agreement to re-align Eaststarch was announced on 21 April 2015.
Following completion, Tate & Lyle has acquired full ownership of the more speciality-focused plant in Slovakia and exited the predominantly Bulk Ingredients plants in Bulgaria, Turkey and Hungary. Tate & Lyle has also received the cash consideration of EUR 240 million. Customary working capital adjustments will be made in due course.