King & Spalding is representing Kraton Corporation (NYSE: KRA) in its $2.5 billion all-cash acquisition by DL Chemical Co., Ltd., a subsidiary of DL Holdings Co., Ltd. (formerly Daelim Industrial Co., Ltd.). The transaction is expected to close in the second quarter of 2022, subject to regulatory and stockholder approvals and other customary closing conditions. The transaction is expected to accelerate Kraton’s growth and provide a robust platform to support further investment in Kraton’s innovation pipeline and sustainable offerings, while enhancing the combined company’s ability to serve end markets in over 70 countries worldwide.
Kraton is a leading global producer of specialty polymers and high-value performance products derived from renewable resources. DL Chemical, based in Korea, is a leading petrochemical company with more than 46 years of operational experience and unique technological know-how.
King & Spalding advised Kraton on all aspects of the transaction, including M&A, securities/SEC, Board-level advice/corporate governance, HSR/merger control, CFIUS/foreign direct investment, executive compensation, employee benefits, finance, tax, IP and data privacy.
A link to the press release announcing the transaction can be found here.
The deal team is led by Jonathan Newton, Heath Trisdale, and Rob Leclerc and includes Keith Townsend, Andrew Ketner, Shahla Hazratjee, Carli Gish and Austin Paalz.