BASF SE (XTRA:BAS) has kicked off a sale of its coatings business, in a process that could value the unit at about ?6 billion ($6.8 billion) and attract bids from large buyout firms, according to people familiar with the matter. The German chemical company has sent out information on the business to potential suitors in recent weeks, the people said, asking not to be identified as the matter is private. The Carlyle Group Inc. (NasdaqGS:CG) is considering bidding for the coatings business together with paint-maker The Sherwin-Williams Company (NYSE:SHW), the people said.
It?s also attracting early interest from CVC Capital Partners plc (ENXTAM:CVC) and Lone Star Funds (Lone Star Americas Acquisitions, Inc.), the people said.
