Carlyle to Sell $560M Stake in Axalta to Berkshire
April 08, 2015
The Carlyle Group has reportedly agreed to sell a $560 million stake in Axalta Coating Systems (NYSE: AXTA) to Berkshire Hathaway (NYSE: BRK.A). Berkshire is said to be purchasing approximately 20 million shares from Carlyle for $28 each; shares of Axalta closed yesterday's trading session up almost 10% at $31.11. Carlyle, which initially acquired the company for $4.9 billion in 2013, sold 40 million shares of the former DuPont (NYSE: DD) automotive paint unit in an offering just last week. It will continue to maintain a nearly 57% controlling stake in the company.