BASF Sells Brazil's Decorative Paints Business to Sherwin-Williams for $1.15 Bln -- Update

Dow Jones2025-02-17

By Michael Susin

BASF said it agreed to sell its Brazilian decorative paints business to Sherwin-Williams for $1.15 billion.

The German chemical giant on Monday said the transaction is structured as a share deal, and includes production sites, related contracts, and the Suvinil and Glasu! brands.

The divestiture, expected to close in the second half of 2025, is part of its turnaround strategy to unlock value through its portfolio management.

In the second quarter of 2025, BASF intends to approach the market to further explore strategic options for its remaining coatings activities, which include automotive OEM coatings, refinish coatings and surface treatment.

During the second quarter of 2025, BASF will begin exploring strategic options for its automotive original equipment manufacturers coatings, refinish coatings, and surface treatment businesses.

In September BASF said it would enhance its focus on its core business, which excludes the coating business.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

February 17, 2025 09:06 ET (14:06 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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