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DL Chemical plans new debt financing for Kraton purchase
By Sara Rosenberg
New York, Sept. 28 – DL Chemical Co. Ltd. has received a commitment for new debt financing to help fund its acquisition of Kraton Corp., according to an 8-K filed with the Securities and Exchange Commission on Monday.
Goldman Sachs Bank USA provided the debt commitment.
Under the agreement, Kraton stockholders will receive $46.50 per share. The transaction has an enterprise value of about $2.5 billion.
Closing is expected in the first half of 2022, subject to customary conditions, including the receipt of stockholder and regulatory approvals.
DL Chemical is a petrochemical company. Kraton is a Houston-based producer of specialty polymers and high-value bio-based products derived from pine wood pulping co-products.
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