Shearman Kuwait Deal, Baker & McKenzie: Business of Law

Dow Chemical Co., the largest U.S. chemical maker by sales, said it received $2.19 billion in cash from Petrochemical Industries Co. of Kuwait as compensation for the cancellation of a joint venture more than four years ago.

Shearman & Sterling LLP represented Dow on the mergers and acquisitions transaction and the arbitration. The Shearman deal team was led by George Casey and the arbitration team by Henry Weisburg. Anthony Grabiner of One Essex Court and Edward Sparrow of Ashurst LLP are advising Petrochemical Industries.