Reuters: Private Equity: Five PE groups formed for DuPont car paint unit-sources

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Five PE groups formed for DuPont car paint unit-sources Apr 13th 2012, 21:26 NEW YORK, April 13 | Fri Apr 13, 2012 5:26pm EDT NEW YORK, April 13 (Reuters) - Five private equity consortia have formed to bid for chemical maker DuPont's car paint business that could be valued at as much as $4 billion, three people familiar with the matter said on Friday. The Carlyle Group and Apollo Global Management LP have paired up, while TPG Capital LP has teamed up with Advent International and KKR & Co LP with Onex Corp , the sources said. Sources previously said that Blackstone Group had teamed up with Bain Capital, and Clayton Dubilier & Rice had paired up with CVC Capital. DuPont's financial adviser, Credit Suisse Group, has asked these five private equity groups to resubmit bids on May 7, after the initial bids collected in early March fell short of the company's price expectations, two of the sources said. All the sources were not authorized to speak with the media and asked not to be named. Representatives for the private equity firms and DuPont did not have immediate comment, and Credit Suisse declined to comment.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions