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.

Baker McKenzie is one of the leading firms for cross-border transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. From deal inception to business integration, we help clients bridge the gap between aspiration and achievement. Baker McKenzie helps clients overcome the challenges of competing in the global economy. We solve complex legal problems across borders and practice areas. Our unique culture, developed over 70 years, enables our 13,000 people to understand local markets and navigate multiple jurisdictions, working together as trusted colleagues and friends to instil confidence in our clients. 

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