WILMINGTON, Del. - DuPont (NYSE: DD) announced today that it has completed the sale of DuPont Performance Coatings (DPC) for $4.9 billion in cash (about $4.0 billion after-tax) and the assumption of certain liabilities to global alternative asset manager The Carlyle Group. DPC is a global supplier of vehicle and industrial coating systems.
"We intend to use a portion of the proceeds from the sale of the DPC business to buy back $1 billion of the company's common stock during the first half ...