LyondellBasell (LYB) has announced that it has entered into an agreement and exclusive negotiations with German industrial group AEQUITA for the potential sale of four of its European olefins and polyolefins assets. The agreement marks a pivotal move in LyondellBasell鈥檚 previously disclosed strategic review of its European operations.
The proposed transaction involves production facilities located in Berre, France; M眉nchsm眉nster, Germany; Carrington, United Kingdom; and Tarragona, Spain. These sites are part of LYB鈥檚 broader effort to reshape its European footprint and concentrate more on higher-value opportunities.
鈥淭his contemplated transaction is a significant step in LYB鈥檚 transformation to grow and upgrade our core,鈥� said Peter Vanacker, CEO of LyondellBasell. 鈥淲e are committed to maintaining safe and reliable operations throughout this process while continuing to support our customers, employees and stakeholders.鈥�
Vanacker emphasized that Europe remains a key market for the company. 鈥淔ollowing this transaction, our presence in Europe will increasingly center on profitable leadership in circular and renewable solutions, areas where we see substantial long-term potential.鈥�
Under the terms of the agreement, AEQUITA would acquire both integrated and non-integrated sites within LyondellBasell鈥檚 European olefins and Polyolefins portfolio. The deal also includes certain corporate support functions located at the company鈥檚 Rotterdam headquarters and other sites. The assets form a strategically positioned platform with access to long-standing customer relationships and key regional infrastructure.
Christoph Himmel, managing partner at AEQUITA, highlighted the strategic value of the acquisition. 鈥淭his marks an important milestone in AEQUITA鈥檚 continued industrial expansion,鈥� Himmel said. 鈥淓ach site contributes a strong operational base and a dedicated workforce. We are confident in our ability to build on these strengths and accelerate growth under AEQUITA鈥檚 ownership.鈥�
AEQUITA aims to ensure a smooth transition and long-term success by closely collaborating with all stakeholders, according to Himmel.
The agreement between LyondellBasell and AEQUITA takes the form of a put option deed. If exercised by LyondellBasell, AEQUITA is contractually obligated to enter into a predefined purchase agreement. The transaction remains subject to completion of mandatory consultation processes with employee representative bodies and regulatory approvals. The closing is expected to occur in the first half of 2026.
Citi and J.P. Morgan Securities LLC are acting as financial advisors, and Linklaters LLP is serving as legal counsel to LyondellBasell for the proposed deal.
LyondellBasell (LYB) is a global leader in the chemical industry, committed to delivering sustainable solutions that support everyday living. Through cutting-edge technologies and strategic investments, the company is actively driving the transition toward a circular and low-carbon economy. In every aspect of its operations, LYB is focused on creating long-term value for its customers, shareholders, and society at large.
