お知らせ • Jul 01
An unknown funds managed by The Carlyle Group Inc. (NasdaqGS:CG), and Qatar Investment Authority completed the acquisition of 60% stake in Automotive OEM Coatings, Automotive Refinish Coatings, and Surface Treatment Businesses of BASF SE.
An unknown funds managed by The Carlyle Group Inc. (NasdaqGS:CG), and Qatar Investment Authority entered into a binding agreement to acquire 60% stake in Automotive OEM Coatings, Automotive Refinish Coatings, and Surface Treatment Businesses of BASF SE for an enterprise value of €7.7 billion on October 10, 2025. As part of the acquisition, BASF SE 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. For the period ending December 31, 2024, Automotive OEM Coatings, Automotive Refinish Coatings, and Surface Treatment Businesses of BASF SE reported total revenue of €3.8 billion.
The transaction is subject to customary regulatory approvals and is expected to close in Q2 2026. As of March 26, 2026, BASF Coatings announced that Jens Luehring will be appointed Chief Executive Officer upon closing of the transaction between BASF and Carlyle, which will establish a standalone coatings company. Uta Holzenkamp will continue to lead BASF Coatings until closing and will then support Jens Luehring to ensure a smooth transition. The transaction between BASF and Carlyle, is subject to customary regulatory approvals and is expected to close in the second quarter of 2026. The transaction has been approved by European Commission on June 2, 2026.
Bank of America Merrill Lynch International Limited Zweigniederlassung Frankfurt am Main acted as financial advisor to BASF SE. Evercore Group L.L.C. acted as financial advisor to The Carlyle Group Inc. Sebastian Heim, Norbert Rieger, Pascal Härdtner, Jan Häller, Paul Bennett, Rolf Füger, Matthias Schell, Max A. Goodman, Alexander Rinne, David Schwenneker of Milbank LLP provided comprehensive advice to Carlyle. Shaun Hartley, Paul Sheridan, Jeff Chenard, Manu Gayatrinath, Patrick Shannon, and Jason Licht, Steven Betensky and Pelin Serpin, Ian Conner, Luca Crocco and Jana Dammann de Chapto of Latham & Watkins LLP acted as legal advisor Carlyle. Frank Röhling, Rafique Bachour, Norbert Schneider, Claude Stansbury, Frank Schaer, Thomas Granetzny, Christel Cacioppo, Michael Ramb, Marius Scherb, Rick van Aerssen, Maximilian Lasson of Freshfields acted as legal advisor BASF. Wells Fargo Securities, LLC acted as financial advisor to The Carlyle Group Inc. Jan Bauer, Ruediger Schmidt-Bendun, Johannes Frey, Frank-M.Schwarz, Susanne Werry of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Qatar Investment Authority. Darshika Kothari and Kunal Kumbhat of AZB & Partners acted as legal advisor to BASF. Ana Nicoleta Andreiana and Caroline Halembert of Loyens & Loeff acted as legal advisor to The Carlyle Group Inc.
An unknown funds managed by The Carlyle Group Inc. (NasdaqGS:CG), and Qatar Investment Authority completed the acquisition of 60% stake in Automotive OEM Coatings, Automotive Refinish Coatings, and Surface Treatment Businesses of BASF SE on June 30, 2026. Following completion of the transaction, BASF SE now holds a 40% equity stake in Surventis, formerly BASF Coatings, comprising the automotive OEM coatings, automotive refinish coatings, and surface treatment businesses.