Ashland Global To Divest Performance Adhesives Business - Quick Facts

Ashland Global Holdings Inc. (ASH) announced the sale of performance adhesives business to Arkema for $1.65 billion. The sale will result in Ashland becoming a focused additive and ingredients company. The company's unit, Ashland LLC, has entered a definitive agreement with Arkema for the all-cash deal. The divestment is anticipated to close by the end of calendar year.

Ashland projects net proceeds from the sale to total approximately $1.2 to $1.3 billion.

The company plans to hold an Investor Day later in the current year.

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