November 15, 2018 / 1:46 PM / a month ago

Ashland Global to sell composites business for $1.1 billion

(Reuters) - Chemicals maker Ineos Enterprises said on Thursday it will buy Ashland Global Holdings Inc’s (ASH.N) composites unit for $1.1 billion, chiefly for its resin business.

Ashland said the divestiture was a part of its plans to focus on specialty chemicals.

Ineos said the deal was expected to be completed in the first half of next year. (bit.ly/2B9uUjs)

British specialty chemicals maker Croda International Plc (CRDA.L) held unsuccessful talks with Ashland about a possible merger, Reuters had reported in February.

Reporting by Debroop Roy in Bengaluru; Editing by Shounak Dasgupta

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