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Home  > Markets & companies  > DuPont seeks new bids for car paint unit

Tuesday, 17 September 2019
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Markets & companies

DuPont seeks new bids for car paint unit

Wednesday, 18 April 2012

New bids for DuPont’s car paint business are due on May 7 2012, sources familiar with the matter said.

According to insiders, DuPont’s car paint business could be worth as much as USD 4 billion. Source: DuPont

According to insiders, DuPont’s car paint business could be worth as much as USD 4 billion. Source: DuPont

Chemical maker DuPont has asked private equity bidders to team up and make new offers for its car paint business after initial bids fell short of expectations, according to people familiar with the matter reported Chemmanager Online. New bids for the business, which could be worth as much as USD 4 billion, are due on May 7 2012, following management presentations to the buyout firms in recent weeks, according to two of the sources. Five private equity groups have formed to bid for the DuPont business, all the sources said. Several of the private equity firms have concerns about the earnings assumptions that DuPont made for the business, as well as an industry trend where volumes in selling paint to auto body shops have been on a steady decline, according to the sources. All the sources were not authorized to speak with the media and asked not to be named. On ECJ editor’s inquiry DuPont declined to comment.

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