Jiangsu Howbetter Food is a food systems business in the People’s Republic of China.
Under the terms of the agreement, Tate & Lyle will acquire 22% of its equity interest from Yitong and the balance of 29% from SB International, a wholly owned subsidiary of a Europe-based global food business (which has been a shareholder in Howbetter since 2009).
Tate & Lyle also has an option to acquire Yitong’s remaining 49% equity interest in Howbetter at a later stage. The transaction is subject to governmental approval, which is expected in the autumn.
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