EASTMAN KODAK CO (KODK): M&A transaction — Kodak pension trust completes sale of $752.8M illiquid assets to Mastercard Foundation for $540.6M

EASTMAN KODAK CO

Trust sold KRIP illiquid assets with $752.8M NAV to Mastercard Foundation on Dec 31, 2024, receiving $540.6M gross proceeds.
Four other investors bought $87.3M NAV KRIP illiquid assets for $61.7M; $9M of proceeds deferred to Dec 31, 2025.
Two private equity interests failed to transfer due to consent issues and right of first refusal; one immaterial interest sold separately.
After closings, Trust holds $169.4M NAV in remaining illiquid assets as of Sep 30, 2024.
Hedge fund assets received $163.1M in distributions Oct–Dec 2024; NAV at Dec 31 not yet available.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

EASTMAN KODAK CO completed a disposition involving four other investors for effective gross purchase price proceeds of $61.7 million (closed 2024-12-31).

Action: disposition
Counterparty: four other investors
Consideration: effective gross purchase price proceeds of $61.7 million
Closing: 2024-12-31

Exact text from the filing

Also on December 31, 2024, pursuant to the Other Agreements the Trust sold to four other investors (together with the Mastercard Closing, the "Closings") KRIP Illiquid Assets having an aggregate net asset value as of the Reference Date of $87.3 million and received effective gross purchase price proceeds of $61.7 million, all of which proceeds have been received except for $9.0 million of cash proceeds which are payable on a deferred basis on December 31, 2025.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

EASTMAN KODAK CO completed a disposition involving Mastercard Foundation for effective gross purchase price proceeds of $540.6 million (closed 2024-12-31).

Action: disposition
Counterparty: Mastercard Foundation
Consideration: effective gross purchase price proceeds of $540.6 million
Closing: 2024-12-31

Exact text from the filing

“Mastercard Closing”) KRIP Illiquid Assets having an aggregate net asset value as of the Reference Date of $752.8 million and received effective gross purchase price proceeds of $540.6 million, all of which have been received. All KRIP Illiquid Assets contemplated to be sold pursuant to the Agreement were sold and transferred at the Mastercard Closing (the reduction

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Source: SEC EDGAR

accession 0000950170-25-002845

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