BASF has entered into a binding agreement to divest its automotive OEM coatings, refinish coatings, and surface treatment businesses – collectively known as BASF Coatings – to funds managed by The Carlyle Group, in partnership with the Qatar Investment Authority.
BASF will also reinvest in the coatings business holding a 40% equity stake and will receive pre-tax cash proceeds of approx. €5.8 billion at closing of the transaction.
“We are delighted to partner with Carlyle, whose sector expertise, carve-out capabilities and collaborative approach will help position BASF Coatings for long-term success,” said Markus Kamieth, chairman of the board of executive directors of BASF SE. “By retaining an equity stake, we are showing our belief in Coatings’ future value creation and upside potential. The passion, expertise, and customer focus of our Coatings team is what makes this business outstanding.”
The enterprise value of the transaction amounts to €7.7 billion. Subject to customary regulatory approvals, the transaction is expected to close in Q2 2026.