New Delhi : Godrej Sara Lee, the joint venture between Godrej and Sara Lee, is drawing to a close. India's largest consumer soap marketer, Godrej Consumer Products has agreed to buy out US-based Sara Lee in their joint venture Godrej Sara Lee for 185 million euros, confirmed its Chairman Adi Godrej.

The transaction is expected to close this month end, Godrej said.
Godrej Consumer Products currently holds 49% share in the American company and would be buying the remaining 51% stake, taking its shareholding to 100%.

In order to strike the deal GCPL would have to raise money via debt and equity.

Further, confirming talks of the company looking at raising about USD 125 million via a private equity route, Godrej said, “It will either be done through a PE route or a qualified institutional placement (QIP).”