# Carlyle and QIA to acquire BASF's coatings business for €7.7 billion

BASF and Carlyle, in partnership with QIA, have entered a binding agreement for the acquisition of BASF's automotive OEM coatings, automotive refinish coatings, and surface treatment businesses at an enterprise value of €7.7 billion. BASF will retain a 40% stake, and closing is expected in Q2 2026.

- Type: Acquisition
- Announced: 2025-10-10
- Where: Münster, Germany
- Value: $8.47B (7.70B EUR)
- Status: announced
- Products: automotive OEM coatings, automotive refinish coatings, surface treatments
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [BASF](https://endata.com/companies/298.md)
- [BASF](https://endata.com/companies/298.md) (target)
- [Carlyle Group](https://endata.com/companies/458.md) (acquirer)
- [Qatar Investment Authority](https://endata.com/companies/21405.md) (acquirer)
- [Qatar Investment Authority](https://endata.com/companies/21405.md) (partner)

## Sources

- [basf.com](https://www.basf.com/global/en/media/news-releases/2025/10/p-25-203), 2025-10-10: "This represents a significant step in unlocking the value of BASF's standalone businesses, as the company swiftly executes its Winning Ways strategy."
- [reuters.com](https://www.reuters.com/world/middle-east/basf-sells-majority-coatings-business-carlyle-qatar-investment-authority-2025-10-10/), 2025-10-10: "BASF has agreed to sell a majority stake in its coatings business to private equity firm Carlyle and the Qatar Investment Authority, valuing the unit at 7.7 billion euros."
- [laliberte.ch](https://www.laliberte.ch/articles/basf-cede-la-majorite-de-son-activite-de-peintures-et-revetements-1219417), 2025-10-10: "En conservant une participation, nous montrons notre confiance dans la création de valeur future et le potentiel de développement de Coatings."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.