U.S. private equity firm The Carlyle Group (Nasdaq:CG) will pay $4.9 billion in cash for a unit of E.I. DuPont de Nemours and Co (NYSE:DD) that makes industrial and vehicle coatings.
Revenue for DuPont Performance Coatings, which has more than 11,000 employees, is expected to be more than $4 billion. The investment will be funded with equity from Carlyle Partners V and Carlyle Europe Partners III.
Shares of DuPont rose 77 cents to $50.71 in premarket trading.
Mike Obel works as Senior Editor, Copy Chief. Before that he was Markets Editor, assigning, editing and writing about business, markets, finance and economics. Before coming...