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Ashland and Clariant to sell foundry chemicals JV to private equity firm Rhône

12:03 AM MDT | April 9, 2014 | Deepti Ramesh

Ashland and Clariant say that they have entered into a definitive agreement to sell their foundry chemicals joint venture, ASK Chemicals (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 ($354 million). After adjusting for debt and assumed liabilities, total pretax proceeds to the sellers will be €149 million, which includes €128 million in cash and a...

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