March 18, 2019 / 12:46 PM / a month ago

Newell Brands to sell Processing Solutions unit for about $500 mln

March 18 (Reuters) - Newell Brands Inc said on Monday it would sell its Processing Solutions business to private equity firm One Rock Capital Partners LLC for about $500 million, as part of the company’s plans to raise $10 billion announced last year.

The divestiture comes days after the company said its chief Executive Officer Michael Polk would retire at the end of second quarter. (Reporting by Soundarya J in Bengaluru; Editing by Shinjini Ganguli)

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