BASF Set to Take Next-Round Bids for Coatings Arm in August

BASF SE has asked bidders for its coatings business to submit offers next month after shortlisting suitors for the unit that could be worth €6 billion ($7 billion) or more in a deal, according to people familiar with the matter.

Private equity firms Carlyle Group Inc., KPS Capital Partners, Lone Star Funds and Platinum Equity have proceeded to the next round of bidding, the people said. Dutch paint maker Akzo Nobel NV has also been picked and is the only industry player remaining, said the people, who asked not to be identified as the information is private.