WL Ross to buy chemicals distributor Nexeo from TPG

Mon Mar 21, 2016 6:47am EDT
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March 21 (Reuters) - WL Ross Holdings Corp said it would buy chemicals and plastics distributor Nexeo Solutions Holdings LLC from private equity firm TPG in a cash-and-stock deal valued at $1.67 billion.

The deal comprises up to 35 million shares of WL Ross common stock and $1.3 billion in cash and debt.

TPG will retain about 35 percent stake in Nexeo. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Sriraj Kalluvila)