Business Briefing for October 14
The latest short chemistry business news items from C&EN.
BASF Sells Coatings Business
BASF will sell a majority stake in its coatings business to the private equity firm Carlyle and the Qatar Investment Authority in a deal valued at $8.9 billion.
- BASF will retain a 40% interest in the business.
- The company will receive $6.7 billion in cash.
- The business generated sales of $4.4 billion in 2024.
- The unit includes BASF’s surface treatment business.
Earlier this month, BASF sold its Brazilian decorative paint business to Sherwin-Williams.
Other news includes Ineos making further cuts in Europe and the launch of biotechs Soufflé, Nilo, and Expedition.
No direct quote available.
Author summary: BASF sells majority stake in coatings business to Carlyle.
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