SYM Symbio Holdings Ltd

   DOW JONES NEWSWIRES 
 

Sara Lee Corp. (SLE) agreed to sell its Australian and New Zealand cleaning products business for EUR27.9 million to Symex Holdings Ltd. (SYM.AU), the latest in a long string of divestitures by the food company.

The White Kings and Janola business mostly makes and sells bleach, toilet, laundry and other cleaning products. Sara Lee expects the deal to close in the first quarter.

Sara Lee's former chief executive, Brenda Barnes, had sold off about two-fifths of the company's businesses to narrow its focus to concentrate more on meat and bread products before she left the company for medical reasons in August. It has also rebuffed a takeover offer from private equity firm KKR & Co. LP. (KKR) and is said to be considering another takeover offer from JBS SA (JBSAY, JBSS3.BR).

Shares closed Tuesday up four cents at $17.55 and weren't active after hours. The stock has climbed 44% so far in 2010.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com