Ashland To Buy Personal Care Business Of Schülke & Mayr GmbH - Quick Facts

(RTTNews) - Ashland Global Holdings Inc. (ASH) announced Tuesday that Ashland has signed a definitive agreement to acquire the personal care business from Schülke & Mayr GmbH, a portfolio company of the global investment organization EQT, for 262.5 million euros n an all-cash transaction.

The transaction enhances Ashland's specialty additives position in personal care, expands biotechnology and microbiology technical competencies and advances environmental, social and governance (ESG) agenda for personal care and household applications.

The transaction, subject to customary closing conditions and required regulatory approvals, is expected to be completed before the end of the June quarter. The transaction will be funded with bank financing and available cash and become immediately accretive to Ashland's earnings per share.