Squire Patton Boggs has advised long-time client Ashland Global Holdings Inc., a global specialty chemicals company, in the signing of a definitive agreement for the sale of its Composites business and the butanediol (BDO) manufacturing facility in Marl, Germany, to INEOS Enterprises for approximately US$1.1 billion. The transaction, announced today, is expected to close prior to the end of the June 2019 quarter.
The Composites unit is a global leader in unsaturated polyester resins, vinyl ester resins and gel coats, and the Germany-based BDO facility and related products are part of Ashland’s Intermediates and Solvents segment.
The Squire Patton Boggs team advising Ashland was led by Carolyn Buller, with corporate assistance from Jonathon Whittlesey, Laura Kacenjar, Andrew Renacci and Nikhita Godiwala. Other specialists on the team included: Meghan Hill and Natalie Bellwood on labor and human resources issues; Carl Draucker on benefits matters; Mitch Thompson on tax issues; Allen Kacenjar and Erik Lange on environmental matters; Huu Nguyen on intellectual property issues; Mike French on real estate matters; and Chris Gordon, Oliver Geiss and Brian Hartnett on antitrust issues. Additional Squire Patton Boggs lawyers in offices outside the US are assisting Ashland in separating the business from Ashland’s operations.