Houston: LyondellBasell (LYB) announced its agreement and exclusive negotiations with AEQUITA for the sale of select olefins and polyolefins assets and the associated business in Europe. The assets involved in the transaction are located in Berre, France; Mnchsmnster, Germany; Carrington, UK; and Tarragona, Spain. These sites have been part of a previously announced strategic assessment by the company.

According to BERNAMA News Agency, this proposed transaction marks a crucial phase in LyondellBasell's transformation strategy aimed at growing and upgrading its core business. LyondellBasell's CEO, Peter Vanacker, emphasized the company's commitment to operating its assets safely and reliably during the transition period. He also highlighted the company's dedication to supporting customers, employees, and other stakeholders. Despite the asset sale, LyondellBasell plans to maintain its presence in the European market, focusing on value creation through leadership in circular and renewable solutions.