ASHLAND INC. (ASH): restructuring charge — Ashland to sell nutraceuticals business to Turnspire; expects $110-120M impairment in Q3 FY2024

ASHLAND INC.

Signed definitive agreement to sell nutraceuticals business to Turnspire Capital Partners; closing expected calendar Q3 2024.
Expects non-cash impairment charge of $110M to $120M in Q3 fiscal 2024, substantially offset by tax benefits.
Nutraceuticals business supplies active ingredients and formulation aids from four facilities in US and Mexico.
No purchase price disclosed in the filing.
Citi and Cravath, Swaine & Moore are acting as financial and legal advisors to Ashland.

item 2.06 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ASHLAND INC. announced a impairment with charges of $110 million to $120 million affecting nutraceuticals business.

Type: impairment
Charge: $110 million to $120 million
Affected area: nutraceuticals business

Exact text from the filing

the Company expects to incur a non-cash impairment charge relating to the goodwill and other intangible assets and property, plant and equipment of this business during the third quarter of fiscal 2024 in the range of $110 million to $120 million

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

ASHLAND INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-055047

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