Tate & Lyle has reached an agreement to sell its minority stake in sugar refineries in Saudi Arabia and Egypt to Saudi-based sugar refiner Savola, the companies have said.

The divestment is the latest stage in Tate & Lyle’s sale of its sugar trading business, announced in July 2008 with the sale of its international sugar trading business to oilseed giant Bunge. Tate & Lyle said that the sale would reduce its exposure to volatile commodity prices and allow the company to concentrate on ...


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