DOWNERS GROVE, Ill. (AP) -- Sara Lee Corp. said Tuesday it sold its stake in a joint venture to Godrej Consumer Products Ltd. for about $230 million.
The joint venture, called Godrej Sara Lee, makes household insecticides, shoe care and male health care products. It focuses on the Indian market.
Sara Lee said the deal is part of its strategy to sell its international household and body care segment. The company expects to close the sale of its body care and European detergents businesses to Unilever by the end of the year, while closing the sale of its air care business to Procter & Gamble Co. by the end of July.
Sara Lee shares fell 6 cents to close at $14.11 Tuesday.