Tate Modern

25/11/10 -- Tate & Lyle have announced that it has agreed to sell its molasses business to Belfast grain group W & R Barnett Ltd for GBP67 million. The sale it says includes "the global molasses trading desk based in London, UK and other worldwide marketing operations together with the UK third party storage operations."

Relatively new Tate & Lyle Chief Exec Javed Ahmed said that the group's clear priority now was "to grow its Speciality Food Ingredients business, supported by cash generated from Bulk Ingredients."

Javed picked up a hefty multi-million pound signing on package when he joined Tate & Lyle in October last year.

So at least he should be alright this Christmas then.