Tate & Lyle Jumps as Company Explores Sale of Stake in Unit

Tate & Lyle shares rose the most in almost six months after the 162-year-old company said it’s exploring the sale of a controlling stake in its largest unit.

Discussions with potential buyers for the primary products business are at an early stage and there’s no certainty that a deal will be concluded, the firm said Sunday.

Historically known as one of Europe’s leading sugar producers, Tate & Lyle sold that business a decade ago and now focuses on food ingredients, including sweeteners like Splenda and Tasteva. The primary products division generated about 1.8 billion pounds ($2.2 billion) in revenue in ...