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Ashland Completes Sale of Distribution Arm

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.”

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