Qatar Investment Authority Supports $8.9 Billion BASF-Carlyle Coatings Deal
The Qatar Investment Authority (QIA), together with global investment firm Carlyle and chemical company BASF, has signed an agreement to buy BASF’s automotive coatings and surface treatment businesses for $8.9 billion (€7.7 billion).
Deal details
Including a recently completed sale of BASF’s decorative paints business, the whole coatings division is valued at $10.1 billion (€8.7 billion), according to BASF’s statement on Friday.
BASF will keep a 40% stake in the coatings business and will receive around $6.7 billion (€5.8 billion) in cash before taxes once the deal is completed. The move is part of BASF’s plan to simplify its business and focus on key growth areas.
Carlyle plans to work closely with the company’s management to help the business grow by improving sales, innovation, and customer service. Carlyle will use its experience in similar investments, such as in Axalta, Atotech, and Nouryon.
The deal still needs approval from regulators and is expected to close in the second quarter of 2026.
About BASF Coatings
BASF Coatings develops and sells innovative and eco-friendly automotive coatings and surface treatments for materials like metal, plastic, and glass. The company operates in Europe, North America, South America, and Asia-Pacific, and earned about $4.4 billion (€3.8 billion) in sales in 2024.
QIA’s other recent investments
In May, China approved QIA’s plan to buy a 10% stake in China Asset Management, the country’s second-largest mutual fund company. The investment, worth over $490 million, makes QIA the third-largest shareholder in the firm, which manages over $250 billion in assets.
In July, QIA and Mubadala Investment Company invested more than $600 million in Transportation Equipment Network, a U.S.-based trailer leasing company owned by I Squared Capital.
Published: 13th October 2025
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