ContractMativ Holdings, Inc. • December 6th, 2023 • Paper mills
As previously disclosed on a Current Report on Form 8-K, on August 1, 2023, Mativ Holdings, Inc. (the “Company”) entered into a final, binding and irrevocable offer letter (the “Offer Letter”) with Evergreen Hill Enterprise Pte. Ltd., an affiliate of PT Bukit Muria Jaya (“Buyer”) pursuant to which Buyer made a binding offer (the “Offer”) to acquire the Company’s Engineered Papers business (the “EP Divestiture”). The Company accepted Buyer’s Offer and countersigned the Purchase Agreement, dated as of August 1, 2023 (the “Purchase Agreement”), with respect to the EP Divestiture on October 4, 2023. On November 30, 2023 and pursuant to the Purchase Agreement, the Buyer acquired the Company’s Engineered Papers business. The gross purchase price was $620 million in cash, subject to certain customary adjustments as set forth in the Purchase Agreement.
