Sees at least 50 mln usd/yr in cost synergies (Il Sole 24 Ore Radiocor) - London, 20 Jun - Tate & Lyle said that it expects the takeover of CP Kelco to complete in the fourth quarter of 2024.

The company targets run-rate cost synergies of at least 50 million dollars (40 million pounds) by the end of the second full financial year post-completion.

"In addition, reflecting the strong complementarity of the two businesses, the combination is expected to generate revenue synergies of up to 10% of CP Kelco's revenue over the medium term, underpinning the acceleration in top-line growth of the enlarged Tate & Lyle," it added.

Huber will become a long-term shareholder with an about 16% in Tate & Lyle following completion.

AAA-Web

(RADIOCOR) 20-06-24 08:54:10 (0165) 5 NNNN