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Clariant AG: Clariant and Ashland to sell ASK Chemicals JV to Rhône

Clariant AG / Clariant AG: Clariant and Ashland to sell ASK Chemicals JV to
Rhône. Processed and transmitted by NASDAQ OMX Corporate Solutions. The
issuer is solely responsible for the content of this announcement.
Muttenz/Covington, KY, April 09, 2014 - Clariant, a world leader in specialty
chemicals, and Ashland Inc. (NYSE: ASH) today announced that they have
entered into a definitive agreement to sell their joint venture, ASK
Chemicals headquartered in Hilden, Germany, to investment funds affiliated
with Rhône, a London and New York-based private equity investment firm.

The enterprise value of the transaction before debt and assumed liabilities
amounts to CHF 310 million (EUR 257 million). After adjusting for debt and
assumed liabilities, total pre-tax proceeds to the sellers will be
approximately CHF 180 million (EUR 149 million), which includes CHF 155
million (EUR 128 million) in cash and a CHF 25 million (EUR 21 million) buyer
note. Proceeds will be split evenly between Ashland and Clariant under terms
of the 50/50 joint venture.

The transaction is expected to close during the third quarter 2014 and is
subject to customary closing conditions, including regulatory approvals.

With 1,800 employees in 25 countries ASK Chemicals is a leading foundry
chemicals manufacturer. Its portfolio encompasses an exceptionally broad and
innovative range of foundry resources such as binders, coatings, feeders,
filters and release agents, as well as metallurgical products including
inoculants, inoculation wires and master alloys for iron casting. In
full-year 2013 ASK Chemicals generated revenues of EUR 513 million.

"The divestment of our stake in ASK Chemicals is part of our continuous active
portfolio management to reallocate capital towards our more profitable growth
areas," said Hariolf Kottmann, CEO of Clariant. "In the joint venture we have
successfully combined the activities of Ashland and former Süd-Chemie
businesses. Now we release it to a new owner who will focus on growth

"The sale of Ashland's equity interest in ASK Chemicals will allow us to focus
on our core specialty chemicals business as we reposition the company for
sustained sales and profit growth," said James J. O'Brien, Ashland chairman
and chief executive officer. "At the same time, the divestiture will give ASK
Chemicals an opportunity for new investment as it works to build on its
position as a leading foundry chemicals manufacturer."

Rhône commented: "We are proud to succeed Ashland and Clariant in the
stewardship of ASK Chemicals. We are excited to be partnering with ASK
Chemicals' management team, and look forward to working with them to further
develop the business in this new phase of ASK's expansion, leveraging on its
leading technology platform, long standing customer relationships, global
manufacturing base and talented personnel."

|Clariant Investor Relations |
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|Corporate Media Relations |
|Kai Rolker Ulrich Steiner |
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|Phone +41 61 469 63 63 Phone +41 61 469 67 45 |
|kai.rolker@clariant.com ulrich.steiner@clariant.com |
|Stefanie Nehlsen Siegfried Schwirzer |
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|Phone +41 61 469 63 63 Phone +41 61 469 67 49 |
|stefanie.nehlsen@clariant.com Siegfried.schwirzer@clariant.com |

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|Ashland investor relations |
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|Corporate Communications |
|Gary L. Rhodes Jason Thompson |
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|Phone +1 859 815 3047 Phone +1 859 815 4454 |
|GLRhodes@ashland.com jlthompson@ashland.com |
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Press Release german
Press Release english


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Clariant AG via Globenewswire


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