Ashland completes Arch Coal divestiture

Covington, Ky.-based Ashland Inc. said Thursday it sold its remaining common stock in Arch Coal Inc., St. Louis, the second largest US coal producer, and will use the proceeds to pay down corporate debt. Concurrently, Arch Coal said it completed a primary offering of 5.2 million shares of stock at a sale price of $19/share and will use the proceeds to pay debt.

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