Collision repair shops that rely on Glasurit or R-M refinish coatings now have a clearer picture of the deal that changed who supplies those products. BASF SE disclosed the financial terms of its completed coatings business sale during its second-quarter 2026 earnings call on July 29, the transaction that created Surventis, the successor to BASF's former Coatings division.
Coatings deal generated €5.8 billion in cash
BASF said the coatings transaction, which closed June 30, generated pre-tax cash proceeds of approximately €5.8 billion (approximately $6.6 billion, based on the European Central Bank's June 30, 2026, reference rate of $1.1394 per euro) and a net cash inflow of about €5.6 billion (approximately $6.4 billion) within its investing activities for the quarter, according to the company's Q2 2026 earnings materials.
The company also booked a disposal gain of €3.5 billion (approximately $4.0 billion) after taxes in income from discontinued operations tied to the sale. BASF retained a 40% equity stake in Surventis, which comprises the former Coatings division's surface treatment, automotive OEM coatings, and automotive refinish coatings businesses, the company said.
The financial specifics add detail to a deal timeline that reaches back to September 2024, when BASF first said it was evaluating strategic options for the coatings division. By May 2025, BASF was reportedly seeking a valuation of roughly €6 billion for the unit, according to a Bloomberg News report. Carlyle-managed funds, working with the Qatar Investment Authority, agreed to acquire a majority stake in the business under a binding agreement BASF announced in October 2025, which the company said in April 2026 remained on track to close in the second quarter.
Surventis launched as an independent company July 1, with the company saying at the time it would keep its existing product lines, technology, brand names, and technical staff in place for customers.
Group earnings rose sharply in the quarter
Beyond the coatings transaction, BASF reported group-wide EBITDA before special items of €2.4 billion (approximately $2.8 billion)) for the second quarter, up 53.6% from a year earlier. Compared with the same quarter last year, the company pointed to stronger pricing within its Chemicals and Materials businesses and sales-volume gains in every segment other than Surface Technologies, according to the company's presentation.
Chairman of the Board of Executive Directors Dr. Markus Kamieth said, "We were able to increase earnings in nearly all segments," according to MarketBeat.
Net income for the first half of 2026 reached €5.07 billion (approximately $5.8 billion), an increase of €4.18 billion (approximately $4.8 billion) from the same period last year, a total that included the coatings disposal gain among other factors, according to BASF's earnings presentation. BASF raised its full-year 2026 guidance for EBITDA before special items to a range of €6.9 billion to €7.7 billion (approximately $7.9 billion to $8.8 billion). That’s up from the €6.2 billion to €7.0 billion (approximately $7.1 billion to $8.0 billion) range it forecast Feb. 27, 2026, while keeping its free cash flow and CO2 emissions targets unchanged.
