BASF AND CARLYLE GROUP CLOSE MASSIVE €7.7 BILLION COATINGS DEAL

Chemical giant BASF and private equity firm Carlyle have officially finalized their massive industrial transaction. Following regulatory approvals, Carlyle has acquired the majority of BASF's global coatings business, which has now been rebranded as Surventis. BASF received roughly €5.8 billion in pre-tax cash proceeds while retaining a 40% equity stake in the newly formed entity to participate in its future growth.