( May 2, 2017, 04:00 GMT | Insight) -- New Zealand's Overseas Investment Office has cleared US-based Newell Brands to acquire Sistema for NZ$660 million ($452.6 million), the New Zealand Herald reports. New Zealand's Overseas Investment Office has cleared US-based Newell Brands to acquire Sistema for NZ$660 million ($452.6 million), the New Zealand Herald reports. Newell, whose portfolio includes brands such as Rubbermaid and Sunbeam, will keep Sistema's manufacturing base in New Zealand for the next 20 years under the terms of the deal. Sistema makes plastic storage containers for global distribution, and the deal will give its North American presence a boost. Newell, which has a market capitalization of $22 billion, had approached Sistema in 2014 but did not close the deal at the time because it was unprepared to accept Sistema's stipulation to keep manufacturing in New Zealand. ...
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