On the Street: Sara Lee Exits Indian JV

June 2/M&A Navigator -- Consumer goods group Sara Lee said it has completed the previously announced sale of its 51% stake in Godrej Sara Lee Ltd, a joint venture with India's soap maker Godrej Consumer Products, to the latter for some $230 million.

The divestment is in line with Sara Lee's strategy to focus on its core food and beverage businesses, while disposing of its international household and body care holdings.

The joint venture, which markets insecticides in India, generated sales of INR7.5 billion last year.

From the June 7, 2010, Prepared Foods E-dition