BASF Sells Majority Stake in Coatings Business
BASF sells a majority stake in its coatings business to the investor Carlyle.
The US investment fund company Carlyle, in partnership with the Qatar Investment Authority (QIA), is acquiring 60% of BASF Coatings with the business units Automotive OEM Coatings, Automotive Refinish Coatings and Surface Treatment.
The enterprise value of the transaction, which is expected to close in the second quarter of 2026, amounts to €7.7 billion. The enterprise value of the entire BASF Coatings division (including Chemetall) after this transaction, together with the already completed divestment of the decorative coatings business, amounts to €8.7 billion.
BASF will retain a 40% stake in the Coatings business and will also receive a pre-tax cash inflow of approximately €5.8 billion upon closing of the transaction.
BASF Coatings is headquartered in Münster, North Rhine-Westphalia, Germany, and is a global player in the development and production of sustainable automotive OEM and refinish coatings as well as applied surface technology for metal, plastic and glass substrates for numerous industries. The division operates in Europe, North America, South America and Asia-Pacific and generated sales of around €3.8 billion in 2024. The scope of the transaction includes the approximately 10,700 employees in all three business units of BASF Coatings at 160 relevant sites - some of which are still operated jointly with BASF today.
