Berkshire takes 8.7 percent stake in Carlyle-controlled Axalta — Reuters

(Reuters) – Paints company Axalta Coating Systems Ltd (AXTA.N) said Berkshire Hathaway Inc (BRKa.N) would buy an 8.7 percent stake in the company from controlling shareholder Carlyle Group (CG.O) for $560 million.

Warren Buffett’s Berkshire is buying 20 million shares at $28 per share, a slight discount to the stock’s Monday closing.

Axalta, the Dupont (DD.N) unit which Carlyle bought for $4.9 billion in February 2013, makes liquid and powder coatings for the automotive and transportation industries.