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Friday, October 28, 2011

Trilantic, Sagard vie for Sara Lee French unit-sourc​e, (NYSE: SLE)

Sara Lee Corp's auction for its French baked goods unit has moved into the home stretch with private equity firms Trilantic Capital Partners and Sagard seen likely to post final offers, sources familiar with the situation said on Friday. Sara Lee is selling the unit, which various sources valued at between 100 and 150 million euros ($212 million), as part of a broader effort to divest its international bakery units. They include its fresh bakery business in Spain and Portugal, acquired by Mexico's Grupo Bimbo earlier this month.

Sara Lee Corporation (Sara Lee) is a global manufacturer and marketer of brand-name products for consumers globally focused primarily on the meats, bakery, beverage and household products categories. Shares of SLE traded higher by 1.51% or $0.27/share to $18.14. In the past year, the shares have traded as low as $14.00 and as high as $20.26. On average, 6096800 shares of SLE exchange hands on a given day and today's volume is recorded at 2288613.