- The transaction involves olefins and polyolefins assets in France, Germany, UK, and Spain.
- Closing is expected in the first half of 2026, subject to consultations and approvals.
- The agreement is a put option deed, pending works council consultations.
- Citi and J.P. Morgan Securities LLC advised LyondellBasell.
Transaction Overview
LyondellBasell has entered into an agreement with AEQUITA for the sale of specific olefins and polyolefins assets in Europe. The assets are located in Berre, France; Münchsmünster, Germany; Carrington, UK; and Tarragona, Spain. This move is part of LyondellBasell's European strategic assessment.
Strategic Implications
The transaction is a step in LyondellBasell's strategy to focus on core operations and enhance value creation through circular and renewable solutions. Despite the sale, Europe remains a key market for the company.
Details of the Agreement
The agreement is structured as a put option deed, where AEQUITA is committed to a purchase agreement if LyondellBasell exercises its option, following necessary consultations with works councils. The assets include both integrated and non-integrated sites, along with central functions based in Rotterdam.
Timeline and Conditions
The transaction is expected to close in the first half of 2026, contingent on the completion of information and consultation processes with employee representative bodies, as well as regulatory and customary closing conditions.
Advisors
Citi and J.P. Morgan Securities LLC served as financial advisors, while Linklaters LLP provided legal counsel to LyondellBasell for this transaction.
