Paint maker Axalta Coating Systems Ltd said Berkshire Hathaway Inc would buy an 8.7 percent stake in the company from controlling shareholder Carlyle Group for $560 million. Axalta's shares were up 4.1 percent at $29.50 in premarket trading. Warren Buffett's Berkshire is buying 20 million shares at $28 per share, a slight discount to the stock's Monday closing.
Carlyle held about 170.3 million shares, or a 74.1 percent stake, in Axalta as of December 31, according to a regulatory filing. (http://bit.ly/1c3v6Bc)
Axalta, the Dupont unit which Carlyle bought for $4.9 billion in February 2013, makes liquid and powder coatings for the automotive and transportation industries.
Berkshire bought lubricants maker Lubrizol Corp for about $9 billion in 2011.
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