Mativ Holdings, Inc. (MATV): M&A transaction — Mativ completes sale of Engineered Papers for $620M; debt to drop ~$600M

Mativ Holdings, Inc.

Gross purchase price of $620M in cash, subject to customary adjustments.
Net debt reduction of more than $600M, equivalent to ~35% of Q3 2023 outstanding debt.
Over 80% of go-forward revenue will come from Advanced Technical Materials segment.
Transaction expected to close in early December 2023; aligns with strategy to focus on specialty materials and delever.

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

Mativ Holdings, Inc. completed a disposition involving Evergreen Hill Enterprise, Pte. Ltd. (affiliate of PT Bukit Muria Jaya) for $620 million in cash (closed 2023-11-30).

Action: disposition
Counterparty: Evergreen Hill Enterprise, Pte. Ltd. (affiliate of PT Bukit Muria Jaya)
Consideration: $620 million in cash
Closing: 2023-11-30

Exact text from the filing

the EP Divestiture on October 4, 2023. On November 30, 2023 Buyer and the Company completed the EP Divestiture pursuant to the Purchase Agreement. The gross purchase price was $620 million in cash, subject to certain customary adjustments as set forth in the Purchase Agreement. The foregoing description of the Purchase Agreement is qualified in its entirety by

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Mativ Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-286727

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