Carlyle Leads Potential BASF Coatings Deal
Private equity firm Carlyle is leading discussions to acquire the coatings division of German chemical giant BASF, a source familiar with the matter told Reuters.
BASF recently disclosed plans to sell its coatings business in a deal valued at around €7 billion ($8.17 billion), according to the Financial Times, which first reported that Carlyle had outbid competing financial investors interested in the unit.
BASF’s coatings division, which was put up for sale earlier this year, employs over 10,300 people and focuses mainly on automotive coatings, generating €3.8 billion in sales last year. In the second quarter, BASF began reaching out to potential buyers to assess strategic options for its remaining coatings operations, with a final decision anticipated in the fourth quarter.
The company stated that selling the business could generate proceeds that would allow it to begin its previously announced €4 billion share buyback, planned for 2027–2028, ahead of schedule.
