UK sugar and sweeteners group Tate & Lyle has announced the sale of its Well Pure unit to a group of private Chinese investors.

Well Pure is a Hong Kong registered company that holds majority interests in two sugar factories based in Guangxi province, southern China.

The £5m (US$7.9m) proceeds of the sale are to be used to reduce group debt.

Simon Gifford, finance director of Tate & Lyle said the disposal completed the company’s exit from investments in sugar assets in China and continued the company’s ongoing strategy to divest non-core or underperforming businesses and product lines.