BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - LyondellBasell 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. The agreement 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.
'This contemplated transaction is a significant step in LYBs transformation to Grow and Upgrade our Core,' said Peter Vanacker, LyondellBasell CEO.
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