BASF sells Brazilian decorative paints business to Sherwin-Williams for $1.15 billion

BASF, a leading global chemical company, announced on February 17 that it had signed an agreement with Sherwin-Williams to sell its decorative coatings business in Brazil for US$1.15 billion (approximately RMB 8.37 billion). The business belongs to BASF's coatings division and has sales of approximately US$525 million in 2024. BASF said that since the business mainly operates in Brazil and has limited synergies with other coatings businesses, it decided to sell it.