LyondellBasell has announced its agreement and exclusive negotiations with AEQUITA. The agreement revolves around the sale of select olefins and polyolefins assets, as well as the associated business in Europe. Sites being sold include Berre (France), Münchsmünster (Germany), Carrington (UK), and Tarragona (Spain).
LyondellBasell
LyondellBasell enters agreement with AEQUITA
“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, Chief Executive Officer at LyondellBasell. “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.”
AEQUITA will acquire integrated and non-integrated sites within LyondellBasell’s European olefins and polyolefins business, as well as supporting central functions located at the company’s headquarters in Rotterdam and other locations. Together these sites will represent a scaled olefins and polyolefins platform located in the proximity to a longstanding customer base.
Christoph Himmel, Managing Partner at AEQUITA, added, “The acquisition of these assets from LYB marks another important step in expanding our industrial footprint. 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 features a put option deed which means AEQUITA is committed to entering into an agreed form purchase agreement if LyondellBasell exercises its put option. The proposed transaction is expected to close in the first half of 2026. Citi and J.P. Morgan Securities LLC acted as financial advisors and Linklaters LLP acted as legal counsel to LyondellBasell.