Waterford, New York – The purchase of Momentive by a group of three Korean businesses completed on 15 May 2019, making the company privately owned.
Each Momentive shareholder was paid $32.5/share, valuing the company at $3.1bn. Momentive CEO, Jack Boss said the deal gave the business: ‘greater combination with KCC’s silicones division. It will expand our portfolio of products and expand our geographic reach.’
The Korean consortium consists of SJL Partners, KCC corporation and Wonik QnC.