Ashland Selling Dublin-Based Distribution Unit
November 8, 2010
Bloomberg reports, Ashland Inc. is selling its Dublin-based global distribution business to private equity firm TPG Capital LP for $930 million. Ashland spokesman Jim Vitak said the deal should not affect staffing in Dublin, where the specialty chemical producer employs about 1,200 workers. The approximately 500 workers at Ashland Distribution and other affected operations are expected to be hired by TPG, he said, and the companies have worked out agreements that will keep them in their current offices. Ashland Distribution shares its Dublin office campus with Ashland Performance Materials and various corporate support services. Ashland will have four remaining units after the sale closes, which is expected by the end of March, pending regulatory and other approvals.