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Issue 18/2018 - Momentive will be acquired by three South Korean companies

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Momentive will be acquired by a capital group composed of South Korea's KCC, Wonik and SJL, and has entered the stage
of signing a definitive merger agreement.
Under the agreement, the capital group will acquire Momentive
for approximately $3.
1 billion.
The transaction will be made
in a combination of cash and borrowing.
Subject to other matters such as regulatory approvals, the transaction is expected to close
in the first half of 2019.

Momentive CEO Jack Boss said: "The transaction will allow Momentive's silicone and quartz businesses to benefit
from KCC and Wonik.
This decision will maximize the protection of the interests of the company's employees, customers, suppliers and shareholders, so that the company can achieve long-term development
.
”

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