LyondellBasell Sells Select European Assets

LyondellBasell has completed the sale of selected European olefins and polyolefins assets, along with related business and corporate functions, to AEQUITA, marking a significant step in its European strategic assessment.

The transaction follows the completion of employee consultation processes and the fulfillment of regulatory and customary closing conditions.

This divestiture aligns with LyondellBasell’s strategy to strengthen its core operations by focusing on assets with sustainable competitive advantages and higher long-term returns, while improving financial flexibility and maintaining disciplined capital allocation.

The assets included in the sale are located in Berre, Münchsmünster, Carrington, and Tarragona. The company will continue to operate its Advanced Polymer Solutions business in Tarragona.

Peter Vanacker, chief executive officer of LyondellBasell said, "By finalizing this sale, we have refined our portfolio and enhanced our capacity to allocate capital toward high-return opportunities that contribute to long-term value creation".

"Europe remains an integral market for LYB; we will continue to invest where value creation is strong, reinforcing our leadership in specialty polymers, building a profitable Circular & Low Carbon Solutions business, and advancing our leadership in technology and innovation. We extend our gratitude to our colleagues transferring as part of this transaction for their contributions, professionalism, and resilience throughout the process. As they transition to a standalone business under AEQUITA ownership, we wish them and the new company success in the next chapter ahead."

Source: LyondellBasell