Carlyle and QIA to acquire a majority stake in BASF Coatings from BASF for €7.7bn.

Carlyle, a global investment firm, and Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, agreed to acquire a majority stake in the automotive OEM coatings, automotive refinish coatings and surface treatment businesses from BASF, a chemical producer, for €7.7bn. “BASF Coatings is an exceptional platform with leading technologies, a world-class management team, strong customer partnerships, and a truly global footprint. We see compelling opportunities to leverage our global platform to support the business becoming an established independent leader. This transaction exemplifies Carlyle’s ability to execute complex carve-outs in partnership with leading global corporates,” Martin Sumner, Carlyle Global Head of Industrials, and Tanaka Maswoswe, Carlyle Partner.