UK: Tate & Lyle PLC - Agreement to sell share in Zambia Sugar Plc
Tate & Lyle PLC announced today that it has agreed, subject to the completion of satisfactory due diligence and approval by the Securities and Exchange Commission of Zambia and the Zambia Competition Commission, to sell its 50.87% share in Zambia Sugar Plc for US$11.4 million (£7.9 million) to Illovo Sugar Limited ("Illovo"). The sale proceeds will be used to pay down Group debt.
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