Tate & Lyle PLC ("Tate & Lyle") announces completion of the sale of Tate & Lyle North American Sugars Inc., trading as Domino Sugar ("Domino"), to an investment group led by Alfonso and J. Pepe Fanjul on 5 November 2001. The maximum consideration will be US$185 million (£127 million) which includes a conditional earnout of up to US$20 million (£14 million) payable over 4 years from date of signing. The consideration in respect of fixed assets is unchanged from the announcement dated 26 July 2001(all variances relate to levels of working capital) and no further write down is required.
UK: Completion of Domino Sugar sale by Tate & Lyle
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