The Carlyle Group signed a definitive agreement whereby Carlyle will buy DuPont Performance Coatings (DPC) for $4.9 billion in cash.
The transaction is expected to close in the first quarter 2013, subject to customary closing conditions and regulatory approvals.
Carlyle had earlier been identified as a leading candidate to purchase the business that provides finishes to automakers and body shops.
DPC has projected 2012 sales of more than $4 billion and more than 11,000 employees.
DuPont has trimmed plant investments or sold off slower-growth businesses as it focuses on faster-growing technologies.
Click on the link to the release below for more details.