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Chemical maker Ashland to sell water unit for $1.8 bln
February 18, 2014 / 2:35 PM / in 4 years

Chemical maker Ashland to sell water unit for $1.8 bln

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.

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