Newell Brands Transforming Into Operating Company
Shares of Newell Brands were slightly lower Tuesday after announcing plans to transform from a holding company into an operating company.
Shares of Newell Brands (NWL) - Get Report were slightly lower Tuesday after announcing plans to transform from a holding company into an operating company. Newell said it would sell about 10% of its business portfolio which had sales of approximately $1.5 billion last year. The proceeds will be used primarily to speed up the repayment of debt and to create a platform for future acquisitions. The company is also simplifying its operating structures by consolidating the existing 32 Business Units to 16 Operating Divisions, including the creation of a new global enterprise-wide e-commerce division.
Employees of TheStreet are restricted from trading individual securities.
