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Basell To Buy Lyondell

Deal to create huge chemicals company.

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By: Karen McIntyre

Editor, Nonwovens Industry

A global leader in polyolefins, Basell will acquire chemical giant Lyondell’s outstanding common shares for $48 per common share in an all cash transaction with a total enterprise value of approximately $19 billion, including the assumption of debt. The transaction will create one of the sector’s largest companies. Lyondell’s three business segments — ethylene, co-products and derivatives; propylene oxide and related products; and refining — will complement and significantly strengthen Basell’s polyolefins business. Basell and Lyondell together would have had combined 2006 revenues of approximately $34 billion and 15,000 employees around the world.

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