Sale of DuPont’s performance coatings business to private equity firm Carlyle Group has finally been settled for US$4.9 billion in cash.

Part of the amount will be used to repurchase shares worth US$1 billion during first-half of 2013, while the remaining proceeds will be used to reinforce its balance sheet, which will enable it to invest in selective growth opportunities.

Following the sale, DuPont will be focusing on accretive businesses like agriculture and nutrition, bio-based industrial and advanced materials. Beginning with third-quarter 2012 results, the performance coatings unit has been classified as discontinued operations and is excluded from the company's continuing operations results, on a retroactive basis.

The company also intends to continue venturing in the automotive industry and expects to generate over US$3 billion in revenues from selling advanced materials.

It also sees itself benefiting from the strong performance of agriculture and food businesses as well as from the synergies of Danisco acquisition. However, weakness in the titanium dioxide and photovoltaic markets, raw material cost inflation and currency could be deterrents.