Daelim Industrial to Acquire Cariflex™ Business Unit of Kraton Corporation for US$530 Million

October 31, 2019

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 Daniel Kim, San Diego partner Jane Song, and Seoul associate Albert Nah. The team also included São Paulo partner Steven Sandretto; Washington D.C. partner Tom Mounteer, of counsel Michael Wise, and associate Daniel Liebowitz; Palo Alto of counsel Todd Schneider; San Diego associate April White; and Seoul associate Han Kyu Lee and attorney Hae-in Park.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.