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Newell Brands completes two divestitures for $2.6B

U.S.-based household goods company Newell Brands Inc. on Dec. 21 completed the previously announced sales of its Pure Fishing Inc. and Jostens Inc. units to two private equity firms.

The company sold Pure Fishing to Sycamore Partners Management LP and Jostens to Platinum Equity LLC.

Proceeds from the two transactions total about $2.6 billion, or about $2.5 billion after tax deductions.

The company intends to use the funds from the sales to pay off debt and repurchase shares.