LyondellBasell Completes Sale of Four European Olefins Sites to AEQUITA
LYB•LyondellBasell sold its European olefins and polyolefins assets at Berre, Münchsmünster, Carrington and Tarragona to AEQUITA, marking completion of required employee consultations and regulatory approvals. The divestiture, forming the new Velogy entity, boosts financial flexibility and redirects capital toward high-return core assets and specialty polymers growth.
1. Transaction Completion
LyondellBasell has finalized the sale of select European olefins and polyolefins production assets and associated corporate functions in Berre (France), Münchsmünster (Germany), Carrington (UK) and Tarragona (Spain) to AEQUITA, following employee consultation processes and regulatory approvals.
2. Strategic Rationale
The divestiture is central to LyondellBasell’s European strategic assessment, enabling the company to concentrate on high-return core assets, reinforce specialty polymers growth and enhance financial flexibility for disciplined capital allocation toward durable competitive advantages.
3. Formation of Velogy and Ongoing Operations
Post-closing, the divested operations will be rebranded as Velogy under AEQUITA ownership, while LyondellBasell retains its Advanced Polymer Solutions business in Tarragona and commits to continued investment in European specialty and low-carbon solutions markets.
