Tate & Lyle to sell stake in commercial sweetener unit in $1.7 billion deal

The factory of Tate & Lyle Sugars is seen in London, Britain January 27, 2021. REUTERS/Peter Cziborra

(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.

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