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Markets :: Specialty Chemicals :: Paints and Coatings

Momentive to Sell Formaldehyde and Acrylic Monomers Businesses (update)

12:59 PM MDT | May 25, 2011 | Rebecca Coons and Vincent Valk

Momentive Performance Materials is looking to sell its its forest products resins and acrylic monomers units before going public, according to a source in the financial community. The businesses will be sold in two separate transactions, with the sale of forest products resins business being handled by Goldman Sachs and Morgan Stanley, and the the sale of the acrylics monomers units be handled by The PrinceRidge Group. The forest products resins business, which mostly deals with formaldehyde, could sell for $800 million-$1 billion, the source says, while acrylic...

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