Edition:
India

Newell Brands to sell its tools business to Stanley Black & Decker for $1.95 bln


Wednesday, 12 Oct 2016 

Newell Brands Inc : Newell Brands announces agreement to sell tools brands to Stanley Black & Decker . Gross proceeds from divestiture are expected to be $1.95 billion . Newell Brands Inc - gross proceeds from divestiture are expected to be $1.95 billion . Newell Brands - proceeds to be primarily used to pay down debt in furtherance of goal of achieving leverage ratio of 3-3.5 times EBITDA by end of 2018 . Newell Brands Inc - if deal were to be completed on dec 31, 2016 , co would expect normalized EPS dilution of about $0.15 on an annualized basis . Newell Brands will retain its Dymo(reg) industrial labeling business within reported tools segment . Total 2015 net sales of remaining businesses held for sale is approximately $700 million .Newell Brands - sales processes are underway and company hopes to complete divestiture of remaining assets held for sale within first half of 2017. 

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