Hulk Hogan, wrestling icon, dies at 71 in Florida home
Investing.com -- BASF SE (OTC:BASFY), a German chemical company, has initiated the sale of its coatings business, a process that could value the unit at approximately $6.8 billion, according to Bloomberg, citing insiders. These sources, who wish to remain anonymous due to the confidentiality of the matter, revealed that the company has disseminated information about the business to potential buyers in recent weeks.
Among the interested parties considering a bid for the coatings business is Carlyle Group (NASDAQ:CG) Inc., in collaboration with paint manufacturer Sherwin-Williams Co (NYSE:SHW). The business has also drawn early attention from CVC Capital Partners (WA:CPAP) Plc and Lone Star Funds.
Other private equity firms such as Advent, Bain Capital, Blackstone (NYSE:BX) Inc., and Platinum Equity are planning to assess the business independently. It is anticipated that the BASF unit might also draw interest from competitor companies within the coatings industry.
However, the discussions are still in their initial stages, and there is no assurance that the potential suitors will proceed with their offers, according to the sources.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.