Tate + Lyle: Disposal of Vietnamese Sugar Interests

London / UK. (tl) Tate + Lyle PLC has entered into a conditional contract to dispose of its Vietnamese sugar interests to TH Milk Food Joint Stock Company, a company based in Vietnam. On completion, Tate + Lyle will receive a cash consideration of 33 million GBP (at current exchange rates) in addition to Tate + Lyle´s share of the value of working capital and net cash to be retained in the business. The transaction is subject to certain conditions, including Vietnamese government approvals and the potential exercise of pre-emption rights by Tate + Lyle´s partner in the business, Mitr Phol Saturn Investments Limited. It is expected that the transaction will complete in the first half of the current financial year.