Carlyle Group Paying $4.9B In Cash For Dupont Unit

 @MikeObelm.obel@ibtimes.com on August 30 2012 8:43 AM

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.

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