* Sees more efficiencies from spinning off coffee biz
* Says DOJ has issues w/ sale of bakery unit to Bimbo
* Sara Lee shares up 1 percent
NEW YORK, June 14 Sara Lee Corp SLE.N will
spin off its international coffee and tea business instead of
its North American meats business as it had planned, it said on
The change of strategy comes nearly five months after the
maker of Jimmy Dean sausages and Senseo coffee said it planned
to split into two pure-play companies after takeover bids
failed to entice it to sell the entire company.
"As we began to get into the details of separating the two
businesses, we determined there are greater efficiencies to be
gained from spinning off the international coffee business,"
Jan Bennink, executive chairman, said in a statement.
Sara Lee shares were up 19 cents, or 1 percent, at $18.88
in midday trade on the New York Stock Exchange.
The company also said it believes the planned sale of its
North American bakery business to Mexico's Grupo Bimbo
(BIMBOA.MX) will close early in fiscal 2012, despite antitrust
concerns over the deal by the U.S. Department of Justice. It
said Bimbo has had substantive discussions with the department
and is working with it to agree on potential remedies.
(Reporting by Martinne Geller; editing by Gunna Dickson)