Private equity firm Carlyle Group has emerged as the front-runner in talks to acquire BASF’s coatings business in a deal valued at roughly €7 billion ($8.2 billion), according to a Reuters report today citing a source close to the matter.
According to Reuters, Carlyle has outbid other financial investors that had shown interest in the business. A BASF spokesperson declined to comment, telling Reuters “it was company policy not to comment on market rumours or speculation.”
The coatings division has more than 10,300 employees and produces automotive and refinish coatings.
As CollisionWeek reported July 25, BASF’s coatings business had
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