Berkshire Hathaway agreed yesterday to buy an 8.7 percent stake in automotive coating maker Axalta Coating Systems from Carlyle Group, interestingly resulting in a return of over twofold the cash Carlyle originally paid for Axalta. This also makes the company the second paint maker Berkshire owns, following Benjamin Moore & Co.
Thanks to the above deal, which is valued at $560 million, November 2014’s initial public offering, and a substantial offering of shares earlier in the month, Carlyle has made $2.9 billion all in all, as it will be selling the auto paint maker to Berkshire, a company headed by billionaire businessma...
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