Paul Hastings has advised South Korea’s Daelim Industrial Co. on its $530 million acquisition of the Cariflex business unit of U.S. chemical maker Kraton Corporation, which was represented by Baker McKenzie.

The deal is worth more than 10 percent of the South Korean construction and petrochemical firm’s equity capital as of last year, according to Pulse News, and it includes the division’s production facility in Brazil, proprietary technology, business concession and production, research and marketing workforce. Cariflex is a global leader in isoprene rubber latex.

The Paul Hastings team was led by partners Daniel Kim, Jane Song, Steven Sandretto and Tom Mounteer.

The Baker McKenzie team was led by partner Denmon Sigler and included tax partner Kai Kramer.

To contact the editorial team, please email ALBEditor@thomsonreuters.com.