BASF, Carlyle Complete €7.7B Coatings Transaction
BASF and Carlyle have completed their €7.7 billion transaction involving BASF’s former coatings business following receipt of all required regulatory approvals.
The transaction closed June 30, 2026, nearly nine months after BASF and Carlyle announced the agreement. BASF said it received pre-tax cash proceeds of approximately €5.8 billion at closing and retained a 40% equity stake in Surventis, formerly BASF Coatings.
Surventis includes BASF’s former automotive OEM coatings, automotive refinish coatings and surface-treatment businesses. Beginning in July, BASF will account for its stake in the company using the equity method.
“This successful closing marks a key milestone in the execution of our Winning Ways strategy,” said Dr. Markus Kamieth, chairman of the board of executive directors of BASF SE.
BASF said the completed transaction, together with its October 2025 divestiture of the decorative paints business, values its entire former Coatings division at an enterprise value of €8.7 billion. The company had reported the coatings business as discontinued operations beginning Sept. 30, 2025, retroactive to Jan. 1, 2025.
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