LyondellBasell Announces Sale of European Olefins and Polyolefins Businesses to AEQUITA

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(LYB) announced plans to sell its olefins and polyolefins businesses in four European locations to AEQUITA for a base consideration of €167 million. This follows a strategic review of certain European assets. The transaction is subject to regulatory approval and completion of consultation processes. LYB expects to incur significant losses in the range of $700 million to $900 million. A press release was issued on the same day to disclose this material agreement.

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About LyondellBasell Industries N.V.

LyondellBasell Industries N.V. operates as a multinational chemical company, actively engaged in the production and sale of chemicals and polymers. Serving as one of the world's largest plastics, chemicals, and refining companies, its primary function is to produce materials that find applications across a wide range of markets, including packaging, electronics, automotive, and construction. The company specializes in the manufacture of olefins and polyolefins, essential components for creating plastics and resins used in everyday items. Additionally, it offers fuel-related products and technologies for refining crude oil, impacting industries reliant on energy and fuel efficiency. Headquartered in Houston, Texas, and Rotterdam, Netherlands, LyondellBasell is recognized for its global footprint and extensive supply chain, underscoring its importance in the global manufacturing landscape. Through its innovative materials and sustainable solutions, the company plays a critical role in enhancing product performance and promoting environmentally-friendly alternatives in modern industrial applications.