MPM Holdings Inc. מתקשרת בהסכם לרכישתה על ידי קבוצת משקיעים הכוללת את SJL Partners, KCC Corporation ו-Wonik QnC Corporation

שווי העסקה בערך 3.1 מיליארד דולר

MPM Holdings Inc., חברת חומרי סיליקון וחומרים מתקדמים, ו-SJL Partners LLC, KCC Corporation  ו-Wonik QnC Corporation  (ביחד "קבוצת המשקיעים"), הודיעו היום שהם התקשרו בהסכם מיזוג סופי שלפיו קבוצת המשקיעים תרכוש את Momentive בעסקה ששוויה בערך 3.1 מיליארד דולר, כולל נטילה של חבויות חוב נטו, פנסיה ו-OPEB.

Momentive, שבסיסה בווטרפורד, ניו יורק, מפתחת ומייצרת חומרי סיליקון וסילאן מיוחדים, וגם מוצרי קוורץ מותך וחומרים קרמיים מיוחדים. ל-Momentive יש היסטוריה של יותר מ-75 שנים של יצירת מוצרים ופתרונות שמשרתים יותר מ-4,000 לקוחות ביותר מאה מדינות. לחברה יש רשת גלובלית של 24 אתרי ייצור ו-12 אתרי מחקר ופיתוח.

Transaction Valued at Approximately $3.1 Billion

WATERFORD, N.Y. & SEOUL, South Korea, 13 September 2018, (BUSINESS WIRE):

MPM Holdings Inc. ("Momentive" or the "Company") (OTCQX: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 they have entered into a definitive merger agreement whereby the Investor Group will acquire Momentive in a transaction valued at approximately $3.1 billion, including the assumption of net debt, pension and OPEB liabilities.

Based in Waterford, New York, Momentive develops and manufactures specialty silicones and silanes, as well as fused quartz and specialty ceramics products. Momentive has a more than 75-year track record of creating products and solutions to serve more than 4,000 customers in over 100 countries. The Company has a global network of 24 production sites and 12 research and development facilities.

"Today's announcement is the result of a thoughtful and comprehensive review of the strategic growth and value creation opportunities available to the Company," said Jack Boss, Chief Executive Officer and President at Momentive. "We believe this is a great outcome for all of our stakeholders, delivering maximum value to our stockholders while positioning the Company for long-term growth and future job creation that will benefit our talented employees across the globe, customers and suppliers. The transaction will not only allow our silicones and quartz businesses to benefit from KCC and Wonik's industry expertise but will also further enhance Momentive's global leadership position by expanding our portfolio of products, broadening our geographic reach and strengthening our financial position. We look forward to partnering with the exceptional teams at KCC, Wonik and SJL after the transaction closes to continue providing specialized products and services to our global customers."

Steve Lim, Chairman and Managing Partner of SJL, representing the Investor Group said, "On behalf of KCC, Wonik and SJL, we are eager to begin this partnership with Jack and the Momentive team. As a result of this highly strategic transaction the combined company will have superior capabilities to better compete in today's global market. The combination of Momentive's leading product portfolios, KCC and Wonik's reach into an expanded geographical market and SJL's solid investment backing and private equity expertise will further position the Company for long-term success."

Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of Momentive, KCC and Wonik, the investment committee of SJL and by requisite vote of Momentive's stockholders, the Investor Group will assume Momentive's net debt obligations subject to minimum closing cash requirements of $250 million. Momentive stockholders will receive $32.50 for each share of common stock they own subject to minimum closing cash requirements.

The transaction will be financed through a combination of cash and new debt that will be put in place at closing. The transaction is not subject to any financing contingency and is expected to close in the first half of 2019, subject to regulatory approvals and other customary closing conditions.

Goldman Sachs & Co LLC and Moelis & Company LLC are serving as financial advisors to Momentive. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as primary legal counsel to Momentive. UBS Investment Bank is serving as financial advisor to the Investor Group, and Greenberg Traurig, LLP is serving as legal counsel.

About Momentive

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. Momentive delivers science-based solutions for major industries, by linking its custom technology platforms to allow the creation of unique solutions for customers. Additional information is available at www.momentive.com.

About KCC Corporation

Based in Seoul, South Korea, KCC Corporation is a leading chemicals manufacturer in Korea, specializing in paints, building materials and specialty materials. It also engages in the silicones business for developing products in the fields of specialized paints and precision chemical engineering. KCC Corporation was founded in 1958 and is headquartered in Seoul, South Korea. Additional information is available at www.kccworld.co.kr/eng/main.do.

About Wonik QnC Corporation

Wonik QnC Corporation manufactures and sells quartz and ceramic wares used in the production of semiconductor wafers. The company's Quartz division provides quartz wares used in the production of semiconductor IC's, as well as products used in the production of semiconductors, LCDs, LEDs, and solar cells. Its Ceramic division offers ceramics materials, including aluminum nitride, silicon carbide, and boron nitride composite. Wonik QnC Corporation was founded in 1983 and is headquartered in Gumi, South Korea. Additional information is available at www.wonikqnc.com/eng/.

About SJL Partners

SJL is a private equity investment manager focused on partnership investments with market-leading strategic companies to support their organic and inorganic growth, including bolt-on acquisitions. SJL's portfolio includes investment into Celltrion Holdings, Korea's leading biosimilar drug manufacturer, and Vigevano, one of the earliest distributors of leading fashion brands and leather goods in Korea. Additional information is available at www.sjlpartners.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180912006185/en/

Contacts

Media and Investors:
Momentive
John Kompa, 614-225-2223
[email protected]
or
Joele Frank, Wilkinson Brimmer Katcher
Jon Keehner / Ed Trissel / Tim Ragones, 212-355-4449
or
Investor Group
SJL Partners
JP Park, +82-2-6911-9701
[email protected]

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