08In 1970 the Trinidad and Tobago Government acquired a 51% stake in Caroni Limited. This decision was linked to the Nationalist and Anti-Imperialist sentiment that was growing in the Caribbean at this time as well as the general stagnation of the sugar industry.
Due to political and economic reasons in the following years, Tate and Lyle felt it prudent to sell the entirety of the company to the government in 1975.
Return to Trinidad Rum Timeline
Related Reading: How Trinidad Rum Changed in the 1970s