Herbert Smith recently represented French specialty chemicals group Arkema in its $365 million purchase of Chinese companies Suzhou Hipro Polymers and Casda Biomaterials.

The Paris-listed Arkema has acquired a 100 percent stake in bio-sourced polyamide producer Suzhou Hipro Polymers, and sebacic acid (a key component of polyamide 10.10) manufacturer Casda Biomaterials with a view to enhance its position in both these markets.

Both the companies are owned by a joint venture between privately owned Chinese specialty chemical company Feixiang Chemicals and alternative asset management company Bain Capital, according to an earlier Reuters report.

The Herbert Smith team was led by Shanghai partner Betty Tam. The sellers Feixiang Chemicals and Bain Capital were advised by Ropes & Gray and Summit Law Group respectively.

"These two acquisitions significantly strengthen its (Arkema’s) world leading position in specialty bio-sourced polyamides, and allow it to become the only chemical manufacturer to offer a full range of long chain polyamides 10, 11 and 12," said Tam in a statement. ALB

Other related stories:

• Singapore: Herbies advises CNOOC on offloading Indonesian stake for $212 mln
• Herbert Smith counsels China Outfitters IPO
• Herbies adds ex-A&O man as finance partner in Singapore