Carlyle to Acquire DuPont’s Unit (DD)

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Private equity firm, Carlyle Group has announced that it will be buying DuPont’s (NYSE:DD) DuPont Performance Coatings (D.P.C.) unit for $4.9 billion in cash.

Carlyle Group, which has been on deal making spree lately, said that it was attracted to the unit’s (D.P.C.) technology and strong brands. Besides, the firm is also excited over unit’s vast exposure to emerging markets such as Brazil and China.

In the past, the private equity firm has shown fair amount of interest in both automotive and industrial coating sector.  It bought companies having globally renowned products and superlative services. For instance: in 2005, the group betted on Allison Transmission and Hertz Global Holdings, and later in 2006, made them public.

In July, Carlyle Group entered in partnership with BC Partners to purchase Hamilton Sundstrand from United Technologies in a deal estimated at $3.46 billion.

Just few days ago, the group bought the Getty Images for $3.3 billion besides acquiring the TCW Group.

The transaction is expected to close by the first quarter of 2013.

According to DuPont’s chief executive, Ellen J. Kullman, although the unit (D.P.C.) was a leader in its sphere, it had a brighter future outside DuPont and hence it was sold to Carlyle Group.


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