M&A - LyondellBasell Industries N.V.

Form Type: 8-K

Filing Date: 2025-06-05

Corporate Action: Acquisition

Type: New

Accession Number: 000148939325000033

Filing Summary: On June 5, 2025, LyondellBasell Industries N.V. provided an update on its strategic review of certain European assets within its Olefins & Polyolefins-Europe, Asia, International (O&P-EAI) segment. The company announced plans to sell its olefins & polyolefins businesses located in Carrington (UK), Tarragona (Spain), Münchsmünster (Germany), and Berre (France). A Put Option Letter Agreement was signed between LyondellBasell Industries Holdings B.V. (the Seller) and AEQ Amethyst B.V. (the Purchaser) for the sale of all issued and outstanding equity interests in the subsidiaries holding the Target Group assets. The Purchaser has committed to acquire these interests subject to certain conditions, including employee notification and consultation processes in France. The transaction is valued at €167 million, subject to adjustments for net indebtedness. The Seller is required to pay €25 million if it fails to meet certain timelines or conditions regarding the sale agreement. LyondellBasell anticipates recognizing a significant loss on the sale, estimated between $700 million and $900 million, due to various costs associated with the asset transfer and adjustments for liabilities. The transaction is expected to close in the first half of 2026, pending customary closing conditions.