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KPS Capital Completes $1.7 Billion Acquisition of Controlling Stake in Tate & Lyle’s Primary Products Business

Paul, Weiss advised KPS Capital Partners, LP in its acquisition of a controlling stake in Tate & Lyle’s Primary Products business in North America and Latin America and its interests in the Almidones Mexicanos S.A. de C.V. and DuPont Tate & Lyle Bio-Products Company, LLC joint ventures. The transaction, which closed on April 1, has an aggregate enterprise value of $1.7 billion. Following completion of the deal, KPS and Tate & Lyle, through affiliates, own 50.1% and 49.9% of the Primary Products Business, respectively, with KPS having board of directors and operational control.

The Primary Products Business is a leading provider of nutritive sweeteners, industrial starches, acidulants and other corn-derived products in North America and Brazil.

The Paul, Weiss team included, among others, corporate partners Angelo Bonvino, Cullen Sinclair, Manuel Frey, Robert Zochowski and Victoria Forrester and counsel Gabriella Toossi and Hilary Christian; executive compensation partner Andrew Gaines and counsel Meghan Fox; tax partners David Mayo, Robert Killip, Brian Krause and Jeffrey Samuels and counsel Alyssa Wolpin; intellectual property partner Charles Googe; real estate partner Peter Fisch and counsel Allen Wieder and Barry Langman; litigation partners Allan Arffa and Aidan Synnott and counsel Peter Jaffe, Steven Herzog and Rachel Fiorill; environmental counsel William O’Brien; antitrust counsel Yuni Sobel and Marta Kelly; international trade counsel Richard Elliott; and restructuring counsel Diane Meyers

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