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DuPont set for car paint unit deal this week-sources
August 29, 2012 / 9:05 PM / 5 years ago

DuPont set for car paint unit deal this week-sources

NEW YORK, Aug 29 (Reuters) - DuPont is nearing a deal to sell its car paint unit to private equity firm Carlyle Group LP as early as this week, three people familiar with the matter said on Wednesday, marking the end of an 8-month-long auction.

The deal is likely to be in the region of $4.8 billion, one of the people said, cautioning that the final details were still being worked out. Complexities in negotiating a carve-out of the performance coatings unit delayed an agreement, the people added.

DuPont and Carlyle declined to comment.

DuPont’s performance coatings business primarily sells to Maaco and other auto paint refinishers. Ford Motor Co and General Motors Co are also key customers, although selling to so-called original equipment manufacturers is not as lucrative.

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