Berkshire Hathaway to pay $560 million to buy 10% stake in Axalta Coating Systems

April 8, 2015 1:02 PM

55 0

Berkshire Hathaway to pay $560 million to buy 10% stake in Axalta Coating Systems

Berkshire Hathaway said that it will pay close to $560 million in order to buy 10% stake in Axalta Coating Systems from subsidiaries of the Carlyle Group. This step will help the company to increase its exposure in the industrial and auto space.

Omaha, Nebraska-based Berkshire Hathaway has planned to hold the stock for at least 90 days. Axalta, a leader in the coating industry, jumped 9.8% to $31.1 at the close in New York. As per experts, Axalta had jumped 45% through Monday since going public at $19.50 a share in November.

Also read: Pebble Discontinuing Smartwatches After Its Sale to Fitbit

Read more

To category page

Loading...