Consumer goods group Reckitt sells majority stake in Essential Home business to Advent International for $4.8 billion including debt. Reckitt retains 30% stake in business known for Air Wick fresheners and Cillit Bang cleaners. Deal aims to address weak brand performance in North America and Europe. Stock rises 0.8% post-announcement. Deal includes $1.3 billion in performance-based payments. Reckitt plans to return excess capital to shareholders post-deal closure.

Read more at Yahoo Finance: Reckitt sells Essential Home stake to Advent for $4.8 billion