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Ashland Completes Sale of Distribution Arm
Posted: April 4, 2011
Ashland Inc. announced it closed the sale of its global distribution business, known as Ashland Distribution, to Nexeo Solutions, LLC, an affiliate of TPG Capital, for a purchase price of approximately $979 million in cash.
Commenting on the transaction, Ashland chairman and CEO James J. O’Brien said, “This transaction signifies our sharpened focus as a high-performing specialty chemicals company. It also is consistent with our overall goal to return maximum long-term value to our shareholders. As we move forward, we are well-positioned to invest in and grow our business, and we intend to do so.”