Buffett Ups The Ante On Auto Sector Bet With $560M Axalta Stake

April 7, 2015 6:01 PM

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Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) has entered an agreement to purchase $560 million of stock in Axalta Coating Systems from subsidiaries of The Carlyle Group LP (NASDAQ:CG) LP as the mega-conglomerate continues to increase its exposure to the industrial and auto sectors.

Berkshire will purchase 20 million shares for $28 each, very close to Monday’s closing price of $28.33. According to the statement released Tuesday morning, Omaha-based Berkshire has agreed to not sell the shares for at least 90 days.

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