MPM Holdings to use new debt financing for purchase by investor group

By Sara Rosenberg

New York, Sept. 13 – MPM Holdings Inc. (Momentive) plans on using new debt and cash to fund its acquisition by SJL Partners LLC, KCC Corp. and Wonik QnC Corp., according to a news release.

Under the agreement, MPM is being bought for $32.50 per share. The transaction is valued at about $3.1 billion, including the assumption of net debt, pension and OPEB liabilities.

Closing is expected in the first half of 2019, subject to regulatory approvals and other customary conditions. The transaction is not subject to any financing contingency.

UBS Investment Bank is serving as financial advisor to the investor group and Goldman Sachs & Co. LLC and Moelis & Co. LLC are serving as financial advisors to MPM.

MPM is a Waterford, N.Y.-based silicones and advanced materials company. KCC is a Seoul, South Korea-based chemicals manufacturer. Wonik is a Gumi, South Korea-based manufacturer and seller of quartz and ceramic wares used in the production of semiconductor wafers.

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