EX-99.1
3
ex99-1.htm
PRESS RELEASE
Exhibit 99.1
News Release
Ashland completes sale of Performance Adhesives business to Arkema for $1.65 billion
WILMINGTON, Del., February 28, 2022 - Ashland Global Holdings Inc. (NYSE: ASH) today announced it has completed the previously announced sale of its Performance Adhesives
business to Arkema in an all-cash transaction valued at approximately $1.65 billion.
Ashland expects net proceeds from the sale to total approximately $1.2 to $1.3 billion. The company will maintain strong capital allocation discipline using the proceeds to
invest in the growth of core businesses as well as optimize its balance sheet and reward shareholders.
"The sale of our Performance Adhesives business completes our journey as a focused additive and specialty ingredients company with leadership positions in life sciences,
personal care and coatings", said Guillermo Novo, chair and chief executive officer, Ashland. "I am
excited about our future and the quality of our additives and specialty ingredients portfolio
and our leadership position in the core markets we serve".
Citi
was the
financial
advisor and Cravath, Swaine & Moore LLP
and Squire Patton Boggs LLP acted as legal advisors to Ashland.
Forward-looking statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of
1934, as amended. Ashland has identified some of these forward-looking statements with words such as "anticipates", "believes", "expects", "estimates", "is likely", "predicts", "projects", "forecasts", "objectives", "may", "will", "should", "plans"
and "intends" and the negative of these words or other comparable terminology. Ashland may from time to time make forward-looking statements in its annual reports, quarterly reports and other filings with the U.S. Securities and Exchange Commission
(SEC), news releases and other written and oral communications. These forward-looking statements are based on Ashland's expectations and assumptions, as of the date such statements are made, regarding Ashland's future operating performance,
financial condition, and expected effects of the COVID-19 pandemic on Ashland's business, as well as the economy and other future events or circumstances. These statements include but may not be limited to Ashland's expectations regarding its
ability to drive sales and earnings growth, realize further cost reductions and realize capital allocation plans with respect to the use of proceeds from business divestments.
1
Ashland's expectations and assumptions include, without limitation, internal forecasts and analyses of current and future market conditions and trends, management plans and
strategies, operating efficiencies and economic conditions (such as prices, supply and demand, cost of raw materials, and the ability to recover raw-material cost increases through price increases), and risks and uncertainties associated with the
following: the impact of acquisitions and/or divestitures Ashland has made or may make (including the possibility that Ashland may not realize the anticipated benefits from such transactions and may not successfully execute the expressed capital
allocation plans with the use of the proceeds from such divestments); Ashland's substantial indebtedness (including the possibility that such indebtedness and related restrictive covenants may adversely affect Ashland's future cash flows, results
of operations, financial condition and its ability to repay debt); severe weather, natural disasters, public-health crises (including the current COVID-19 pandemic), cyber events and legal proceedings and claims (including product recalls,
environmental and asbestos matters); the effects of the COVID-19 pandemic on the geographies in which we operate, the end markets we serve and on our supply chain and customers, and without limitation, risks and uncertainties affecting Ashland that
are described in Ashland's most recent Form 10-K (including Item 1A Risk Factors) filed with the SEC, which is available on Ashland's website at http://investor.ashland.com or on the SEC's website at http://www.sec.gov. Various risks and
uncertainties may cause actual results to differ materially from those stated, projected or implied by any forward-looking statements. The extent and duration of the COVID-19 pandemic on our business and operations is uncertain. Factors that will
influence the impact on our business and operations include the duration and extent of the pandemic, the extent of imposed or recommended containment and mitigation measures, and the general economic consequences of the pandemic. Ashland believes
its expectations and assumptions are reasonable, but there can be no assurance that the expectations reflected herein will be achieved. Unless legally required, Ashland undertakes no obligation to update any forward-looking statements made in this
news release whether as a result of new information, future events or otherwise.
About Ashland
Ashland Global Holdings Inc. (NYSE: ASH) is a premier additives and specialty ingredients company with a conscious and proactive mindset for sustainability. The company serves
customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, nutraceuticals, personal care and pharmaceutical. Approximately 3,800 passionate, tenacious solvers
- from renowned scientists and research chemists to talented engineers and plant operators - thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit
ashland.com
and
ashland.com/sustainability
to learn more.
™
Trademark, Ashland or its subsidiaries, registered in various countries.
FOR FURTHER INFORMATION:
Investor Relations:
Media Relations:
Seth A. Mrozek
Carolmarie C. Brown
+1 (302) 594-5010
+1 (302) 995-3158
samrozek@ashland.com
ccbrown@ashland.com
2

EX - 99 . 1 3 ex99 - 1 . htm PRESS RELEASE Exhibit 99 . 1 News Release Ashland completes sale of Performance Adhesives business to Arkema for $ 1.65 billion WILMINGTON , Del . , February 28 , 2022 - Ashland Global Holdings Inc . ( NYSE : ASH ) today announced it has completed the previously announced sale of its Performance Adhesives business to Arkema in an all - cash transaction valued at approximately $ 1.65 billion . Ashland expects net proceeds from the sale to total approximately $ 1.2 to $ 1.3 billion . The company will maintain strong capital allocation discipline using the proceeds to invest in the growth of core businesses as well as optimize its balance sheet and reward shareholders . " The sale of our Performance Adhesives business completes our journey as a focused additive and specialty ingredients company with leadership positions in life sciences , personal care and coatings " , said Guillermo Novo , chair and chief executive officer , Ashland . " I am excited about our future and the quality of our additives and specialty ingredients portfolio and our leadership position in the core markets we serve " . Citi was the financial advisor and Cravath , Swaine & Moore LLP and Squire Patton Boggs LLP acted as legal advisors to Ashland . Forward - looking statements This news release contains forward - looking statements within the meaning of Section 27A of the Securities Act of 1933 , as amended and Section 21E of the Securities Exchange Act of 1934 , as amended . Ashland has identified some of these forward - looking statements with words such as " anticipates " , " believes " , " expects " , " estimates " , " is likely " , " predicts " , " projects " , " forecasts " , " objectives " , " may " , " will " , " should " , " plans " and " intends " and the negative of these words or other comparable terminology . Ashland may from time to time make forward - looking statements in its annual reports , quarterly reports and other filings with the U . S . Securities and Exchange Commission ( SEC ) , news releases and other written and oral communications . These forward - looking statements are based on Ashland 's expectations and assumptions , as of the date such statements are made , regarding Ashland 's future operating performance , financial condition , and expected effects of the COVID - 19 pandemic on Ashland 's business , as well as the economy and other future events or circumstances . These statements include but may not be limited to Ashland 's expectations regarding its ability to drive sales and earnings growth , realize further cost reductions and realize capital allocation plans with respect to the use of proceeds from business divestments . 1 Ashland 's expectations and assumptions include , without limitation , internal forecasts and analyses of current and future market conditions and trends , management plans and strategies , operating efficiencies and economic conditions ( such as prices , supply and demand , cost of raw materials , and the ability to recover raw - material cost increases through price increases ) , and risks and uncertainties associated with the following : the impact of acquisitions and / or divestitures Ashland has made or may make ( including the possibility that Ashland may not realize the anticipated benefits from such transactions and may not successfully execute the expressed capital allocation plans with the use of the proceeds from such divestments ) ; Ashland 's substantial indebtedness ( including the possibility that such indebtedness and related restrictive covenants may adversely affect Ashland 's future cash flows , results of operations , financial condition and its ability to repay debt ) ; severe weather , natural disasters , public - health crises ( including the current COVID - 19 pandemic ) , cyber events and legal proceedings and claims ( including product recalls , environmental and asbestos matters ) ; the effects of the COVID - 19 pandemic on the geographies in which we operate , the end markets we serve and on our supply chain and customers , and without limitation , risks and uncertainties affecting Ashland that are described in Ashland 's most recent Form 10 - K ( including Item 1A Risk Factors ) filed with the SEC , which is available on Ashland 's website at http://investor.ashland.com or on the SEC 's website at http://www.sec.gov . Various risks and uncertainties may cause actual results to differ materially from those stated , projected or implied by any forward - looking statements . The extent and duration of the COVID - 19 pandemic on our business and operations is uncertain . Factors that will influence the impact on our business and operations include the duration and extent of the pandemic , the extent of imposed or recommended containment and mitigation measures , and the general economic consequences of the pandemic . Ashland believes its expectations and assumptions are reasonable , but there can be no assurance that the expectations reflected herein will be achieved . Unless legally required , Ashland undertakes no obligation to update any forward - looking statements made in this news release whether as a result of new information , future events or otherwise . About Ashland Ashland Global Holdings Inc . ( NYSE : ASH ) is a premier additives and specialty ingredients company with a conscious and proactive mindset for sustainability . The company serves customers in a wide range of consumer and industrial markets , including architectural coatings , automotive , construction , energy , food and beverage , nutraceuticals , personal care and pharmaceutical . Approximately 3,800 passionate , tenacious solvers - from renowned scientists and research chemists to talented engineers and plant operators - thrive on developing practical , innovative and elegant solutions to complex problems for customers in more than 100 countries . Visit ashland.com and ashland.com/sustainability to learn more . ™ Trademark , Ashland or its subsidiaries , registered in various countries . FOR FURTHER INFORMATION : Investor Relations : Media Relations : Seth A . Mrozek Carolmarie C . Brown + 1 ( 302 ) 594 - 5010 + 1 ( 302 ) 995 - 3158 samrozek@ashland.com ccbrown@ashland.com 2