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Merger Alert: Tribunal greenlights global transaction involving Bond UK’s acquisition of BASF’s Coatings Division

2026-02-20

Notice

The following Merger Alert is for information purposes only and is not binding on the Competition Tribunal or any member of the Tribunal

Lead Text

The Competition Tribunal has unconditionally approved the merger in which Bond UK MidCo 4 Ltd will acquire the Coatings Division of BASF SE. Following the merger, Bond UK will have sole control of BASF’s Coatings Division...

Type of matter

Large merger

Parties involved

Bond UK Midco 4 Ltd and BASF’s Coatings Division

Tribunal Decision

Approved without conditions

Issued By

Gillian de Gouveia, Communications Manager On behalf of the Competition Tribunal of South Africa

Tel:

27123941383

Cell:

27824101195

E-Mail:

GillianD@comptrib.co.za

X (Twitter):

twitter.com/comptrib/status/1861692486839607353

LinkedIn:

za.linkedin.com/company/competition-tribunal-of-south-africa

The Competition Tribunal has unconditionally approved the merger in which Bond UK MidCo 4 Ltd (“Bond UK”) will acquire the Coatings Division of BASF SE (“BASF’s Coatings Division”). Following the merger, Bond UK will have sole control of BASF’s Coatings Division.

This is a global transaction that has also received unconditional approval in several other jurisdictions including Australia, Brazil, Canada, Morocco, North Macedonia, Saudi Arabia, Serbia, Ukraine and the United States.

The acquiring group, Bond UK and its controllers, forms part of a global investment firm that manages assets across business areas including private equity and credit.

The target group (BASF Coatings and the firms it controls) develops, manufactures and sells specialised coatings and surface treatments. These products are used by automotive manufacturers and component producers, as well as in industries such as aerospace, agriculture and construction equipment.