BASF Hires BofA, JPMorgan to Advise on Sale of Coatings Business
The coatings business sale could provide a boost to banks that have seen a slowdown in the merger financing business.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
BASF SE hired Bank of America Corp. and JPMorgan Chase & Co. to advise it on the potential sale of its coating business, according to people familiar with the matter.
The process is expected to start toward the end of the second quarter, the people said, and some banks have been eyeing the possibility of providing around €2.5 billion ($2.7 billion) of debt financing for the transaction.