PHILADELPHIA--(BUSINESS WIRE)--Axalta Coating Systems Ltd. (NYSE: AXTA) has announced the pricing of the previously announced sale of 41,621,996 common shares on an underwritten basis by affiliates of The Carlyle Group (“Carlyle”), at a price to the public of $28.25 per share. The last reported sale price of Axalta’s common shares on July 27, 2016 was $28.97 per share. Axalta will not receive any of the proceeds from the offering of shares by Carlyle. Closing of the offering is expected to occur on or about August 2, 2016, subject to customary closing conditions.

Goldman, Sachs & Co. is acting as the sole underwriter for the offering.

Following the offering, Carlyle will not beneficially own any of Axalta’s common shares. As a result, Axalta’s principal stockholders agreement will terminate pursuant to its terms and Carlyle will no longer have the right to designate members to Axalta’s Board of Directors in accordance with the terms of the principal stockholders agreement.

About Axalta Coating Systems – Celebrating 150 Years in the Coatings Industry

Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enhance durability. With more than 150 years of experience in the coatings industry, the 12,800 people of Axalta continue to find ways to serve our more than 100,000 customers in approximately 130 countries better every day with the finest coatings, application systems and technology.