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Two firms make a chemical bond

Two firms make a chemical bond

Gerry Bean

A Japanese chemical manufacturer’s acquisition of an Australian bioplastics company has brought together a global firm and a national rival.

Firms: DLA Piper (Kuraray Co., Ltd); Minter Ellison (Plantic Technologies Limited)

Deal: Kuraray’s acquisition of Plantic Technologies Limited

Value: Undisclosed

Area: M&A

Key players: The DLA team was led by partner Dr Gerry Bean (pictured) and senior associate Dylan Burke, with assistance from partners Monique Stella and Mark Burger, senior associate Chris Neil, solicitor Asher Seifman and graduate Alex Moores.

Minter Ellison’s team was led by partner Joseph Pace.

Deal significance: Kuraray is listed on the Tokyo Stock Exchange and has a market capitalisation of over $6 billion.

Kuraray has acquired 100 per cent of Australian-based Plantic Technologies from a company controlled by Gordon Merchant, the founder of Billabong, who purchased Plantic Technologies in 2010.

Plantic Technologies also has an international presence through subsidiaries in Germany and the UK.

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