Business Deal Lyondell Basell Completes Sale of Select European Olefins and Polyolefins Assets

Aequita has acquired select European olefins and polyolefins assets, and the associated business and corporate functions from Lyondell Basell. The move is in line with Lyondell Basell’s strategy to grow and upgrade the core by further concentrating on assets and businesses with durable competitive advantages and stronger long-term returns.

Rotterdam/The Netherlands – Lyondell Basell (LYB) has successfully completed the sale of select European olefins and polyolefins assets, and the associated business and corporate functions, to Aequita as a key milestone in the company’s European strategic assessment. The transaction follows completion of required employee information and consultation processes and satisfaction of customary regulatory and closing conditions.

The divestiture supports the company’s strategy to grow and upgrade the core by further concentrating on assets and businesses with durable competitive advantages and stronger long-term returns, while enhancing financial flexibility and supporting disciplined capital allocation.

The assets sold in the transaction are located in Berre (France), Münchsmünster (Germany), Carrington (UK), and Tarragona (Spain). LYB will continue to operate its Advanced Polymer Solutions (APS) business in Tarragona.

“This transaction represents a pivotal achievement in our transformation,” said Peter Vanacker, chief executive officer of Lyondell Basell. “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.”

Vanacker added, “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.”

Following the closing, the divested business will be named and operated as Velogy.

“This closing marks an important step in building a scaled and competitive European polymers platform, a sector where we see strong fundamentals and attractive long-term value creation potential,” said Dr.-Ing. Axel Geuer, Aequita-Founder and Chairman. “We thank Lyondell Basell for the constructive collaboration throughout the process and are excited to begin the next step of partnering with Velogy’s employees to reinforce and further enhance the Company’s leading services to customers and suppliers.”

LYB remains committed to operating its remaining assets safely and reliably and to continuing to serve customers and partners with the same high standards.

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