Latest news with #AEQUITA
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
LyondellBasell enters talks to sell key European assets to AEQUITA
LyondellBasell (LYB) announced that it has entered into an agreement and exclusive negotiations with AEQUITA for the sale of select olefins & 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). LyondellBasell has entered exclusive talks with AEQUITA to sell select European olefins and polyolefins assets in France, Germany, the UK, and Spain. The deal supports LYB's strategic shift toward circular and renewable solutions. AEQUITA plans to expand its industrial base. Closing is expected in the first half of 2026, pending consultations and approvals. '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.' The agreement entered into between LyondellBasell and AEQUITA is a put option deed under which AEQUITA has committed to enter into an agreed form purchase agreement if LyondellBasell exercises its put option, after conclusion of certain works council consultation processes. Closing of the proposed transaction is currently expected in the first half of 2026, subject to the completion of the information and consultation processes with the relevant employee representative bodies in accordance with applicable laws, as well as regulatory and other customary closing conditions. Citi and J.P. Morgan Securities LLC acted as financial advisors and Linklaters LLP acted as legal counsel to LyondellBasell. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Yahoo
3 days ago
- Business
- Yahoo
LyondellBasell in Exclusive Talks to Sell Four European Assets to AEQUITA
LyondellBasell Industries N.V. (NYSE:LYB) has announced it has reached an agreement and entered exclusive negotiations with AEQUITA to sell select olefins and polyolefins assets and operations in Europe. These assets, previously identified as part of LYB's strategic review, are located in Berre (France), Münchsmünster (Germany), Carrington (UK), and Tarragona (Spain). A factory worker monitoring a conveyor belt of specialty chemicals being produced. The deal includes both integrated and standalone facilities, along with central support functions based in Rotterdam and other locations. These sites form a sizable olefins and polyolefins platform well-positioned near key customers and connected to essential infrastructure. Peter Vanacker, LyondellBasell Industries N.V. (NYSE:LYB)'s chief executive officer, made the following comment: '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. 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 transaction is expected to close in the first half of 2026, pending consultation with employee representatives and regulatory approvals. Citi and J.P. Morgan Securities LLC are serving as financial advisors, with Linklaters LLP acting as legal counsel for LyondellBasell. LyondellBasell Industries N.V. (NYSE:LYB) is a global leader in the chemical industry, focused on advancing sustainable solutions and supporting a circular, low-carbon economy through innovation and investment. While we acknowledge the potential of LYB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New Straits Times
4 days ago
- Business
- New Straits Times
LyondellBasell to divest four European sites in deal with AEQUITA
KUALA LUMPUR: LyondellBasell (LYB), a leader in the global chemical industry, 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 (United Kingdom), and Tarragona (Spain). "This contemplated transaction is a significant step in LYB's transformation to grow and upgrade our core. We are committed to operating our assets safely and reliably throughout this process and will continue to support our customers, employees and other key stakeholders. "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," said LyondellBasell chief executive officer, Peter Vanacker, in a statement. Meanwhile, AEQUITA managing partner, Christoph Himmel, said the acquisition of these assets from LYB marks another important step in expanding its industrial footprint. Each site brings a strong operational foundation and a highly experienced, committed employee base. 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 agreement is a put option deed under which AEQUITA has committed to enter into an agreed form purchase agreement if LYB exercises its put option after the conclusion of certain works council consultation processes. Closing of the proposed transaction is currently expected in the first half of 2026, subject to the completion of the information and consultation processes with the relevant employee representative bodies in accordance with applicable laws, as well as regulatory and other customary closing conditions.
Barnama
4 days ago
- Business
- Barnama
LyondellBasell To Divest Four European Sites In Deal With AEQUITA
BUSINESS KUALA LUMPUR, June 6 (Bernama) -- LyondellBasell (LYB), a leader in the global chemical industry, has entered into an agreement and exclusive negotiations with AEQUITA for the sale of select olefins & 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 (United Kingdom), and Tarragona (Spain). 'This contemplated transaction is a significant step in LYB's transformation to grow and upgrade our core. We are committed to operating our assets safely and reliably throughout this process and will continue to support our customers, employees and other key stakeholders. '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,' said LyondellBasell chief executive officer, Peter Vanacker in a statement. Meanwhile, AEQUITA managing partner, Christoph Himmel said the acquisition of these assets from LYB marks another important step in expanding its industrial footprint. Each site brings a strong operational foundation and a highly experienced, committed employee base. 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 agreement is a put option deed under which AEQUITA has committed to enter into an agreed form purchase agreement if LYB exercises its put option after the conclusion of certain works council consultation processes. Closing of the proposed transaction is currently expected in the first half of 2026, subject to the completion of the information and consultation processes with the relevant employee representative bodies in accordance with applicable laws, as well as regulatory and other customary closing conditions.
Yahoo
4 days ago
- Business
- Yahoo
LyondellBasell in Exclusive Talks to Sell Four European Assets to AEQUITA
LyondellBasell Industries N.V. (NYSE:LYB) has announced it has reached an agreement and entered exclusive negotiations with AEQUITA to sell select olefins and polyolefins assets and operations in Europe. These assets, previously identified as part of LYB's strategic review, are located in Berre (France), Münchsmünster (Germany), Carrington (UK), and Tarragona (Spain). A factory worker monitoring a conveyor belt of specialty chemicals being produced. The deal includes both integrated and standalone facilities, along with central support functions based in Rotterdam and other locations. These sites form a sizable olefins and polyolefins platform well-positioned near key customers and connected to essential infrastructure. Peter Vanacker, LyondellBasell Industries N.V. (NYSE:LYB)'s chief executive officer, made the following comment: '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. 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 transaction is expected to close in the first half of 2026, pending consultation with employee representatives and regulatory approvals. Citi and J.P. Morgan Securities LLC are serving as financial advisors, with Linklaters LLP acting as legal counsel for LyondellBasell. LyondellBasell Industries N.V. (NYSE:LYB) is a global leader in the chemical industry, focused on advancing sustainable solutions and supporting a circular, low-carbon economy through innovation and investment. While we acknowledge the potential of LYB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None.
