Schoenherr has advised Ashland on the Austrian aspects of its sale of its global water technologies business to the Clayton, Dubilier & Rice private equity fund.
The transaction is valued at approximately USD 1.8 billion. Schoenherr reports that the sale was made so that Ashland can focus on its core specialty chemicals business. Ashland provides specialty chemical solutions to customers in a wide range of consumer and industrial markets in more than 100 countries. The company is listed on the New York Stock Exchange.
The Schoenherr team was led by Partner Florian Kusznier, assisted by Associates Tamara Gaggl and Manuel Ritt-Huemer and Attorney Georg Adler.
On non-Austrian matters, Ashland was advised by Cravath, Swaine & Moore and Squire Patton Boggs. Debevoise & Plimpton acted as lead counsel to CD&R.
Earlier in the year, the same fund acquired the Mauser Group, reported on by CEE Legal Matters on May 13, 2014.
