Sara Lee To Sell Australia Cleaning Item Operations For EUR27.9 Million
28 Dezember 2010 - 10:58PM
Dow Jones News
DOW JONES NEWSWIRES
Sara Lee Corp. (SLE) agreed to sell its Australian and New
Zealand cleaning products business for EUR27.9 million to Symex
Holdings Ltd. (SYM.AU), the latest in a long string of divestitures
by the food company.
The White Kings and Janola business mostly makes and sells
bleach, toilet, laundry and other cleaning products. Sara Lee
expects the deal to close in the first quarter.
Sara Lee's former chief executive, Brenda Barnes, had sold off
about two-fifths of the company's businesses to narrow its focus to
concentrate more on meat and bread products before she left the
company for medical reasons in August. It has also rebuffed a
takeover offer from private equity firm KKR & Co. LP. (KKR) and
is said to be considering another takeover offer from JBS SA
(JBSAY, JBSS3.BR).
Shares closed Tuesday up four cents at $17.55 and weren't active
after hours. The stock has climbed 44% so far in 2010.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com
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