PARIS (Dow Jones)--Sara Lee Corp. (SLE) expects to sell its French unit Dim SA in the next few months and two candidates - investment funds PAI Partners and Oaktree (OCM.XX) - are still in the running, Le Figaro reports, citing sources at the company in the U.S.
Sarah Lee had initially planned to sell the unit by June 30, but hasn't reached a deal with a buyer, the paper says. The company was hoping to fetch EUR700 million-EUR1 billion for Dim, but interested buyers were only ready to pay around EUR350 million, the report adds.
DISAGREE! When you advertise you reach more potential buyers than if you fumble around door to door and may have to pay finder's fees--Europe and China like to grease palms--that is one reason European and Japanese economies are so weak.. Also note SLE is trying to give away a French factory to get rid of it.