The world's top chemicals distributors, including Germany's Brenntag (BNRGn.DE), are circling Belgium-based Azelis, three people familiar with the matter said. Rival chemicals distributors Univar and Nexeo Solutions, the former distribution arm of Ashland (ASH.N), are also interested in buying Azelis, which is owned by British private equity firm 3i Group (III.L), the people said. Reuters reported in March that London-listed 3i had hired Bank of America Merrill Lynch (BAC.N) to sell Azelis, which handles sales and development of the Mirasil cosmetics line and distributes food and beverage flavourings, such as a recently launched vegetarian bacon flavouring. 3i is aiming to run a tight auction process, in which a small number of potential trade buyers will soon be selected to bid for the business, one of the people familiar with the sales process said on Tuesday.
Ashland Inc. (Ashland) business consists of five segments: Ashland Aqualon Functional Ingredients; Ashland Hercules Water Technologies; Ashland Performance Materials; Ashland Consumer Markets (Valvoline), and Ashland Distribution. Shares of ASH fell by 0.88% or $-0.53/share to $59.68. In the past year, the shares have traded as low as $42.77 and as high as $63.93. On average, 769363 shares of ASH exchange hands on a given day and today's volume is recorded at 148392.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 0.04% or $-0.0050/share to $11.855. In the past year, the shares have traded as low as $10.91 and as high as $16.75. On average, 134099000 shares of BAC exchange hands on a given day and today's volume is recorded at 51411720.
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