Update: Korean consortium acquiring Momentive

Seoul – A consortium of Korean companies, led by leading Korean construction materials company KCC Corp. has signed a deal to buy US-based silicones and speciality materials supplier MPM Holdings Inc., also known as Momentive Performance Materials.

In a joint statement 13 Sept, the investor group said it is acquiring Momentive in a transaction valued at approximately $3.1 billion (€2.65 billion), including the assumption of net debt, pension and OPEB liabilities.

Other consortium members include Seoul-based private equity company SJL Partners LLC and Wonik QnC Corp., manufacturer of…

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