SJL Partners, KCC Corporation, and Wonik QnC Corporation Collectively Acquires MPM Holdings Inc.

The Investor Group comprising SJL Partners LLC, KCC Corporation, and Wonik QnC Corporation has successfully completed the previously announced acquisition of Momentive. “This is a great outcome for all of our stakeholders, delivering maximum value to our stockholders and positioning Momentive for long-term growth and future job creation that will benefit our talented employees across the globe as well as our customers and suppliers,” said Jack Boss, Chief Executive Officer and President at 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.” On May 15, Momentive became a wholly owned subsidiary of the Investor Group and ceased to be traded on the OTCQB. In connection with the closing, the transaction was financed through a combination of cash and new debt.