Global consumer goods firm Sara Lee Corp is selling its 51 per cent stake in joint venture with Indian company Godrej to Godrej Consumer Products Ltd for 185 million euros (about 234 million dollars), as the US-based company focuses on growing its food and beverage businesses. The 15-year-old Godrej Sara Lee joint venture primarily markets insecticides, including the leading brand of mosquito repellent Good Knight throughout India. The transaction, which is subject to customary closing conditions, is expected to close before the end of Sara Lee's fiscal year on July 3, 2010. Having partnered with Godrej for 15 years, we are confident that their great team will build on the success we have shared to date and ensure that these leading brands will continue to thrive, Sara Lee's Chairman and CEO Brenda Barnes said in a statement here.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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