Daelim Industrial to Acquire Cariflex™ Business Unit of Kraton Corporation for US$530 Million
Seoul — Paul Hastings LLP, a leading global law firm, announced today that the firm is advising Daelim Industrial Co., Ltd., a leader in the petrochemical and construction & engineering sectors based in Korea, on its US$530 million acquisition of the CariflexTM business unit of Kraton Corporation (NYSE: KRA), a leading global producer of styrenic block copolymers, specialty polymers, and high-value performance products derived from renewable resources.
Daelim Group is one of Korea's major conglomerates with more than 80 years of business history and a presence in more than 20 countries in Asia, North America, Europe, and the Middle East. Daelim Industrial Co., Ltd. is the flagship company of Daelim Group and is listed on the Korea Stock Exchange. Through this acquisition, Daelim Industrial will provide its customers with a wider range of innovative products while adding the ability to serve the medical and other high-end markets. The transaction is expected to close in the first half of 2020, subject to customary regulatory approvals.
A global Paul Hastings team assisted Daelim Industrial with the many different elements of this complex business carve-out transaction, including corporate, intellectual property, environmental and real estate, and antitrust and other regulatory advice. The cross-border team was led by Seoul partner
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