June 5, 2025 – Rotterdam
In a significant step toward reshaping its global operations, chemical industry leader LyondellBasell (LYB) has entered into an agreement and exclusive negotiations with German industrial group AEQUITA for the sale of select olefins and polyolefins assets in Europe. The move aligns with LYB’s previously announced strategic review of its European business operations.
The assets in question are located at four strategic sites — Berre (France), Münchsmünster (Germany), Carrington (United Kingdom), and Tarragona (Spain). These facilities have long supported LYB’s production and supply of essential chemical components, particularly olefins and polyolefins, which are foundational to a wide range of plastic products.
Strategic Shift for LYB
Peter Vanacker, Chief Executive Officer of LyondellBasell, described the proposed sale as a “significant step” in the company’s journey to “Grow and Upgrade our Core.” He emphasized LYB’s commitment to operational safety and reliability during the transition period, and reaffirmed the company’s long-term presence in Europe. Post-sale, LYB will focus more heavily on profitable leadership in circular and renewable solutions.
“This transaction allows us to reallocate our resources toward future-focused growth areas like sustainable materials and circular economy initiatives,” Vanacker stated.
AEQUITA’s Expansion Strategy
For AEQUITA, the deal represents an opportunity to bolster its industrial footprint across Europe. Christoph Himmel, Managing Partner at AEQUITA, said, “Each site offers a strong operational foundation and a dedicated workforce. We are confident in our ability to accelerate their development and create long-term value.”
The acquisition includes both integrated and non-integrated sites, as well as related support functions based in Rotterdam and other LYB locations. These sites are strategically located near major customer bases and key infrastructure, enhancing their logistical and operational value.
Next Steps & Timeline
Under the terms of the agreement, AEQUITA has signed a put option deed, committing to a formal purchase once LYB exercises its option — pending the successful conclusion of employee consultations and compliance with local labor laws.
The closing of the deal is expected in the first half of 2026, subject to regulatory approvals and other customary conditions. Financial advice for LYB was provided by Citi and J.P. Morgan Securities LLC, with legal counsel from Linklaters LLP.
Continued Investor Engagement
To keep stakeholders informed, LYB will host a conference call on June 5 at 8 a.m. EDT. Key executives including CEO Peter Vanacker and CFO Agustin Izquierdo will provide further insight into the transaction. Replay and access details are available on the company’s investor website.
Company Profiles
LyondellBasell is a global leader in polymers and chemical innovation, driving sustainable solutions across industries like clean water, transportation, and healthcare. Listed on the NYSE as LYB, the company is a pioneer in advancing circular and low-carbon technologies.
AEQUITA, headquartered in Munich, is known for investing in complex business transitions, including carve-outs and restructurings. Its portfolio spans over €3.5 billion in revenues, and the firm focuses on long-term operational improvements.
With this potential transaction, both companies position themselves for strategic evolution—LYB towards a more sustainable, high-growth future, and AEQUITA as a stronger player in the European industrial landscape.