Arkema buys Ashland’s Performance Adhesives unit

Ashland expects net proceeds from the sale to total approximately USD 1.2 to USD 1.3 billion. The company will maintain strong capital allocation discipline using the proceeds to invest in the growth of core businesses and optimize its balance sheet, and reward shareholders.

‘The sale of our Performance Adhesives business completes our journey as a focused additive and specialty ingredients company with leadership positions in life sciences, personal care, and coatings,’ said Guillermo Novo, chair and chief executive officer of Ashland. ‘I am excited about our future and the quality of our additives and specialty ingredients portfolio and our leadership position in the core markets we serve.’

Citi was the financial advisor, and Cravath, Swaine & Moore and Squire Patton Boggs acted as legal advisors to Ashland.