BASF launches €6bn coatings business sale, attracting major PE interest - Private Equity Wire

UPDATE BASF reportedly selling coatings business at $6.8 billion valuation

Editor’s note: This article has been updated to include a response from BASF. According to Bloomberg News and Reuters, BASF has made plans to sell its coatings business for a $6.8 billion valuation. Carlyle Group and paint maker Sherwin-Williams are considering bidding together for the coatings unit, but interest has also been shown by CVC Capital Partners and Lone Star Funds, according to Bloomberg. Following the publication deadline, BASF shar…

BASF launches €6bn coatings business sale, attracting major PE interest - Private Equity Wire

German chemical giant BASF SE has officially kicked off the sale process for its coatings business, with the unit expected to fetch up to €6bn ($6.8bn), drawing attention from a growing roster of global buyout firms including Carlyle Group, according to a report by Bloomberg. The reports cites unnamed sources familiar with the matter, as revealing that while the process — advised by Bank of America and JPMorgan — is still in early stages, a host…