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DuPont to sell car paint unit to Carlyle for $4.9B

Tags: Dupont

DuPont (DD-N) is selling its slow-growing car paint business to private equity firm Carlyle Group LP for $4.9 billion US in cash as it focuses on advanced materials and biotechnology.

The unit, with 11,000 employees, is a global supplier of vehicle and industrial coating systems with 2012 expected sales of more than $4 billion.

After the sale, DuPont said it will still generate more than $3 billion through sales of advanced materials to the auto industry.

As part of the transaction, Carlyle will assume $250 million of DuPont's unfunded pension liabilities.

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