Basell: Acquirement of Lyondell Chemical
Basell, Hoofddorp, Netherlands, the global leader in polyolefins, and Lyondell Chemical Company, Houston, Texas, USA, one of the world’s largest chemical companies, announced that they have signed a definitive agreement pursuant to which Basell will acquire Lyondell’s outstanding common shares for USD 48 per common share in an all cash transaction with a total enterprise value of approximately USD 19 billion, including the assumption of debt. The transaction was unanimously approved by the Boards of Directors of Basell and Lyondell.
The transaction will create one of the sector’s largest companies. Lyondell’s three business segments – ethylene, co-products and derivatives; propylene oxide and related products; and refining – will complement and significantly strengthen Basell’s polyolefins business. Basell and Lyondell together would have had combined 2006 revenues of approximately USD 34 billion and 15,000 employees around the world.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.