M&A: EASTMAN KODAK CO

Form Type: 8-K

Filing Date: 2025-01-07

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025002845

Comments: On December 31, 2024, Eastman Kodak Company, through the Kodak Retirement Income Plan Trust, completed the sale of KRIP Illiquid Assets to Mastercard Foundation and other investors. The Trust sold illiquid assets worth an aggregate net asset value of $752.8 million to Mastercard, receiving effective gross purchase price proceeds of $540.6 million. Two private equity partnership interests were not transferred due to consent issues. Additionally, assets worth $87.3 million were sold to four other investors, generating $61.7 million in proceeds, with $9.0 million remaining on a deferred payment schedule until December 31, 2025. As of September 30, 2024, the Trust holds KRIP Illiquid Assets valued at $169.4 million and has also received substantial distribution payments from Hedge Fund Assets, which adjusted their valuations during the same period. The details reflect Kodak's ongoing management of its retirement plan assets and the strategic movements involved in liquidating certain holdings to optimize value.

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