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

7:33 AM MDT | July 1, 2014 | Deepti Ramesh

Ashland and Clariant say that they have completed the previously announced sale of 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 divestment was completed on 30 June. Plans for the sale were first announced in April. The enterprise value of the transaction before debt and assumed liabilities amounts to €257 million ($352 million). After adjusting for debt and assumed liabilities, the sellers received, pretax...

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