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DuPont completes sale of coatings unit to The Carlyle Group
7:56 AM MST | February 5, 2013 | Kara Sissell
DuPont says it has completed the sale of its performance coatings business to The Carlyle Group for $4.9 billion. DuPont announced the sale of the unit (DPC) last August. “We intend to use a portion of the proceeds from the sale of the DPC business to buy back $1 billion of the company’s common stock during the first half of this year,” says executive v.p. and CFO Nicholas Fanandakis. “Additionally, we anticipate using the remaining portion of the DPC sale proceeds to further strengthen our balance sheet, which should give us...
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