The automotive OEM, refinish and surface treatment business begins operating July 1 as a standalone company under Carlyle Group and Qatar Investment Authority ownership, with BASF retaining a 40% stake.
The automotive coatings business formerly known as BASF Coatings began operating July 1 as an independent company under a new name, Surventis, a day after Carlyle Group completed its acquisition of a majority stake in a transaction valued at €7.7 billion ($8.9 billion).
BASF said it received about €5.8 billion ($6.7 billion) in pre-tax cash proceeds on June 30, when the sale closed following receipt of all required regulatory approvals,
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