Godrej Consumer May Buy India JV Stake If Sara Lee Exits-Executive
August 10 2009 - 1:11AM
Dow Jones News
India's Godrej Consumer Products Ltd. (532424.BY) may buy Sara
Lee Corp.'s (SLE) stake in Godrej Sara Lee Ltd., if the U.S.-based
company decides to exit the joint venture, a company executive said
Monday.
"We have the right of first refusal in the joint venture with
Sara Lee. So, if Sara Lee decides to exit the joint venture we may
look at buying them out," P. Ganesh, Godrej Consumer's finance and
commercial vice president, told Dow Jones Newswires.
Ganesh was responding to a media report that Godrej Consumer is
willing to acquire Sara Lee's 51% stake in the Indian joint
venture.
The right of first refusal gives Godrej the right to purchase
Sara Lee's stake in their joint venture before the offer is made to
others.
-By Rumman Ahmed, Dow Jones Newswires; 91-9845104173;
rumman.ahmed@dowjones.com