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BASF initiates sale of coatings business at about $6.8 billion valuation, Bloomberg News reports

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(Reuters) -German chemicals maker BASF SE has in recent weeks sent out information to potential suitors for a sale of its coatings business at a valuation of about 6 billion euros ($6.81 billion), Bloomberg News reported on Friday.
BASF SE, a German chemical company, has initiated the sale of its coatings business, which is valued at approximately $6.8 billion, according to Bloomberg News. The company has engaged Goldman Sachs Group Inc. to assist with the sale process. This move is part of BASF's strategy to streamline its operations and focus on its core businesses. The coatings division, which includes automotive, industrial, and decorative coatings, has been a significant part of BASF's portfolio, but the company believes that divesting this unit will help improve its overall financial performance and competitiveness in the market.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/economy/basf-initiates-sale-of-coatings-business-at-about-6-8-billion-valuation-bloomberg-news-reports/ar-AA1FObU5 ]