LyondellBasell has entered into an agreement and exclusive negotiations with AEQUITA for the sale of select olefins and polyolefins assets and the associated business in Europe.
The sites to be sold have been part of the previously announced European strategic assessment and are located in Berre (France), Münchsmünster (Germany), Carrington (UK) and Tarragona (Spain).
“This contemplated transaction is a significant step in LYB’s transformation to grow and upgrade our core.
“We are committed to operate our assets safely and reliably throughout this process and will continue to support our customers, employees and other key stakeholders,” said Peter Vanacker, LyondellBasell chief executive officer. “Europe remains a core market for LYB and one we will continue to participate in following this transaction with more of a focus on value creation through establishing profitable leadership in circular and renewable solutions.”
The assets and business to be acquired by AEQUITA include integrated and non-integrated sites within LYB’s European olefins and polyolefins business, as well as supporting central functions based at the Company’s Rotterdam headquarters and various locations.
The sites together represent a scaled olefins and polyolefins platform strategically located in proximity to a longstanding customer base and with access and connectivity to key infrastructure.
“The acquisition of these assets from LYB marks another important step in expanding our industrial footprint,” said Christoph Himmel, managing partner at AEQUITA.
“Each site brings a strong operational foundation and a highly experienced, committed employee base. We are confident in our ability to accelerate their development under AEQUITA’s ownership approach. We look forward to welcoming the teams into our Group and to working collaboratively with all stakeholders to ensure a smooth transition and establish a strong platform for long-term success.”
LyondellBasell to sell select European petrochemical assets to AEQUITA
