Shares of Newell Brands 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.
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