Carlyle in Pact for BASF Coatings Unit at €7.7B EV: M&A Snapshot

(Updates with details throughout)

BASF and funds managed by Carlyle in partnership with Qatar Investment Authority have entered into a binding agreement relating to BASF’s automotive OEM coatings, automotive refinish coatings, and surface treatment businesses, according to statement.

• The enterprise value of the transaction amounts to €7.7 billion
• BASF will also reinvest in the coatings business holding a 40% equity stake and will receive pre-tax cash proceeds of ~€5.8 billion at closing of the transaction
• This transaction, together with the already closed divestiture of the decorative paints business, value BASF’s entire Coatings division at an enterprise value of €8.7 ...