Frontrunner emerges in bidding war for DuPont car paint unit | Citybizlist

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It looks as though Washington, D.C. based Carlyle Group LP is the most likely winner in the bidding war over DuPont’s car paint business.

Sources close to the deal say DuPont stands to make more than $4.5 billion in the sale. Sources say that Carlyle Group just edged out New York based Apollo Global Management LLC after Apollo opted to not up its offer. Other bidding war casualties: KKR & Co. LP and Onex Corp, which were offering to buy the company together. Sources say they have already dropped out. Big-name DuPont customers include auto paint refinisher Maaco, Ford Motor Co. and General Motors Co.

DuPont has been investing in faster-growing businesses, such as seeds, while spending less or shedding mature businesses.

via Frontrunner Emerges in Bidding War over DuPont Paint Sale | Philadelphia Citybizlist.

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