Investor group completes acquisition of Momentive
Summary
An investor group comprised of SJL Partners LLC, KCC and Wonik has closed its previously announced acquisition of Momentive , a global silicones and advanced materials company. WATERFORD, N.Y. & SEOUL, South Korea–(BUSINESS WIRE)–MPM Holdings Inc. (“Momentive” or the “Company”) (OTCQB: MPMQ), a global silicones and advanced materials company, and SJL Partners LLC (“SJL”), KCC Corporation (KS:002380) (“KCC”) and Wonik QnC Corporation (KOSDAQ:074600) (“Wonik”) (collectively, the “Investor Group”), today announced that the Investor Group has successfully completed the previously announced acquisition of Momentive. “The acquisition and the potential for greater combination with KCC’s silicones division will further enhance Momentive’s global leadership position by expanding our portfolio of products, broadening our geographic reach and strengthening our financial position.” Pursuant to the terms of the merger agreement, Momentive stockholders received $32.50 in cash for each issued and outstanding share of common stock they own. Momentive is a global leader in silicones and advanced materials, with a more than 75-year heritage of being first to market with performance applications that support and improve everyday life.
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