Eaststarch re-alignment completed
Tate & Lyle PLC has completed the transaction to re-align the Eaststarch corn wet milling joint venture in Europe with Archer Daniels Midland Company. The signing of the agreement to re-align Eaststarch was announced on 21 April 2015.
Following completion, Tate & Lyle has acquired full ownership of the more speciality focused plant in Slovakia and exited the predominantly bulk ingredients plants in Bulgaria, Turkey and Hungary. Tate & Lyle has also received the cash consideration of €240 million. Customary working capital adjustments will be made in due course.
