1 July 2014
Details
Ashland Inc. and Clariant
today announced they have completed
the previously announced sale of their joint venture,
headquartered in Hilden, Germany,
to investment funds affiliated with Rhône,
a London and New York-based
private equity investment firm.
The enterprise value of the transaction,
before debt and assumed liabilities,
amounts to €257 million.
After adjusting for debt and assumed liabilities,
total pre-tax proceeds to the sellers were
€149 million, which includes €128 million in cash and
a €21 million buyer note.
Proceeds will be split evenly
between Ashland and Clariant
under terms of the 50/50 joint venture.
With 1,800 employees in 25 countries,
ASK Chemicals
is a leading foundry chemicals manufacturer.
Its portfolio encompasses
an exceptionally broad and innovative range of
foundry resources such as
* binders, coatings, feeders,
* filters and release agents, as well as
* metallurgical products including
inoculants, inoculation wires and
master alloys for iron casting.
In 2013, ASK Chemicals generated
annual revenues of €513 million.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
