Baker McKenzie is representing global specialty chemicals company Kraton Corporation in the sale of its Cariflex business unit to South Korea-based conglomerate Daelim Industrial Co., for a purchase price of $530 million. The transaction is expected to close in the first quarter of 2020.
Kraton plans to use the sales proceeds from Cariflex to focus on growth of its core polymer and chemical businesses.
The Kraton in-house legal team working on transaction includes James Simmons, Senior Vice President & General Counsel, Jennie Howard, Associate General Counsel and Diane Parson, Assistant General Counsel.
Baker McKenzie's team is led by North American Oil & Gas Practice Chair and M&A partner Denmon Sigler and includes tax partner Kai Kramer, and associates Rocio Mendoza, Rocío Ruiz, and Patrick Renckly.
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