March 27, 2017 / 12:05 PM / 8 months ago

BRIEF-Sealed Air announces sale of New Diversey to Bain Capital

March 27 (Reuters) - Sealed Air Corp:

* Sealed Air announces sale of new diversey to Bain Capital private equity

* Sealed Air Corp - announces sale of new diversey to bain capital private equity for approximately $3.2 billion

* Sealed Air Corp - increases share repurchase program by an additional $1.5 billion

* Sealed Air Corp - expects to use proceeds to repay debt and maintain its net leverage ratio in range of 3.5 to 4.0 times

* Total authorization for future repurchases under program is approximately $2.2 billion

* Sealed Air will maintain its quarterly cash dividend of $0.16 per common share while company reduces earnings dilution

* Sealed Air Corp - results of operations of new diversey will be reported as discontinued operations beginning in Q1 of 2017 Source text for Eikon: Further company coverage:

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