WL Ross Buys U.S. Chemicals Distributor Nexeo for $1.65 Billion

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  • Deal includes 35m shares, plus $1.3 billion in cash, debt
  • Seller TPG plans to retain 35 percent holding in Nexeo

WL Ross Holding Corp., the investment vehicle run by billionaire Wilbur Ross, agreed to buy Nexeo Solutions Holdings for about $1.65 billion to use as a base for acquiring other assets in the fragmented chemical-distribution industry.

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