2nd UPDATE: Sara Lee Still In Talks On International Household
Unit
(Updates with comments from the company's chief executive in an interview)
By Anjali Cordeiro
Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Sara Lee Corp. (SLE) said Thursday it remains in
negotiations on the sale of other parts of its international household business.
In September, Sara Lee announced a binding offer from Unilever (UN ULVR.LN)
for its global body care and European detergents businesses. Procter & Gamble
Co. (PG) is interested in buying part of Sara Lee's international household
products unit, The Wall Street Journal reported last month, citing people
familiar with the matter.
Sara Lee didn't specify Thursday who potential buyers might be.
"The process is well underway," said Chief Executive Brenda Barnes in an
interview. "We are in discussions with potential buyers. We do feel good about
selling the balance of the portfolio."
Sara Lee's fiscal first-quarter earnings rose 23.5% amid lower costs as
results exceeded analysts' expectations. The company is cutting prices on some
products like bakery goods.
Barnes said on a conference call that the food-service industry isn't showing
signs of improvement as consumers continue to avoid eating out.
Sara Lee said it will use acquisitions to add to its core businesses, but that
it has no desire to add back unrelated categories to its business.
-By Anjali Cordeiro, Dow Jones Newswires; 212-416-2200; anjali.cordeiro@
dowjones.com
(END) Dow Jones Newswires
11-05-091252ET
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