Chemical maker Ashland to sell water unit for $1.8 bln

Tue Feb 18, 2014 9:32am EST

Feb 18 (Reuters) - U.S. chemical manufacturer Ashland Inc said it would sell its water technologies unit to a fund managed by Clayton, Dubilier & Rice for about $1.8 billion.

The proceeds will be used to fund a $1.35 billion stock repurchase it also announced on Tuesday.

Ashland shares were up 2.3 percent at $98.40 in early trading.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.