Apropos CP Kelco: Tate + Lyle announces additional information

London / UK. (tl) Tate + Lyle PLC said in June that it agreed to acquire the entire issued share capital of (a) CP Kelco U.S.; (b) CP Kelco China; and (c) CP Kelco ApS together with each of their respective subsidiaries (together «CP Kelco»), a leading provider of pectin, speciality gums and other nature-based ingredients, from J.M. Huber Corporation for a total implied consideration of USD 1.8 billion (circa GBP 1.4 billion), on a cash-free, debt-free basis – see «Tate + Lyle and CP Kelco to merge to leading global player».

On 11 July 2024, the Financial Conduct Authority announced changes to the UK Listing Rules, which took effect from 29 July 2024. Under the New Listing Rules, completion of the Proposed Transaction is no longer required to be conditional on the approval of Tate + Lyle’s shareholders. Accordingly, Tate + Lyle and Huber have agreed that the condition under the sale and purchase agreement (SPA) to seek approval for the Proposed Transaction from Tate + Lyle’s shareholders will no longer apply.

The Proposed Transaction constitutes a «significant transaction» for Tate + Lyle under the New Listing Rules. Tate + Lyle now announces certain additional information relating to the Proposed Transaction as required under the New Listing Rules. For additional info please read the PDF file below (112 KB):

20241004-TATE-LYLE-CPKELCO.