Ashland, headquartered in Covington, Kentucky, is to sell its Composites business and butanediol (BDO) manufacturing facility in Marl, Germany, to INEOS Enterprises, in a transaction valued at approximately $1.1 billion.

The transaction is expected to close prior to the end of the June 2019 quarter, contingent on certain customary regulatory approvals, standard closing conditions and completion of required employee information and consultation processes.

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