ROTTERDAM, Netherlands, May 1, 2026 (GLOBE NEWSWIRE) — LyondellBasell (NYSE: LYB) today announced that it has successfully completed the sale of select European olefins and polyolefins assets, and associated business and corporate functions, to AEQUITA as a key milestone in the company’s European strategic review. The transaction follows the completion of the required employee information and consultation processes and the satisfaction of customary regulatory and closing conditions.
The divestiture supports the company’s strategy to grow and enhance its core businesses by further focusing on assets and businesses with sustainable competitive advantages and stronger long-term returns, while increasing financial flexibility and supporting disciplined capital allocation.
The assets sold in the transaction are located in Berre (France), Münchsmünster (Germany), Carrington (UK) and Tarragona (Spain). LYB will continue to operate its Advanced Polymer Solutions (APS) business in Tarragona.
“This transaction represents a critical achievement in our transformation,” said Peter Vanacker, CEO of LyondellBasell. “By completing this sale, we have refined our portfolio and increased our ability to allocate capital to high-return opportunities that contribute to long-term value creation.”
Vanacker added: “Europe remains an integral market for LYB; we will continue to invest where value creation is strong, strengthen our leadership in specialty polymers, build a profitable Circular & Low Carbon Solutions business and advance our leadership in technology and innovation. We thank our colleagues who transferred as part of this transaction for their contributions, professionalism and resilience throughout the process. As they transition to a standalone company under AEQUITA ownership, we wish them and the new company success in the next chapter ahead.”
Following today’s closing, the divested business will be renamed and operated as Velogy.
“This closure marks an important step in building a scaled and competitive European polymers platform, a sector in which we see strong fundamentals and attractive long-term value creation potential,” said Dr.-Ing. Axel Geuer, AEQUITA founder and chairman. “We thank LyondellBasell for its constructive collaboration throughout the process and are excited to take the next step in working with Velogy employees to strengthen and further enhance the company’s industry-leading services to customers and suppliers.”
LYB remains committed to operating its remaining assets safely and reliably and to continuing to serve customers and partners with the same high standards.
Advisors
Citi and JP Morgan Securities LLC acted as financial advisors, and Linklaters LLP acted as legal advisor to LyondellBasell.
About LyondellBasell
We are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and targeted investments, we enable a circular and low-carbon economy. In everything we do, we strive to unlock value for our customers, investors and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, produce and sell high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and high-quality healthcare. For more information please visit http://www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
About AEQUITA
AEQUITA is a Munich-based industrial group investing in corporate divestitures, succession situations and transformation opportunities in Europe, North America and Asia. The portfolio companies generate more than 10 billion euros in revenues in three segments – automotive, chemicals and industrial – and employ more than 19,000 people worldwide. Backed by a strong capital base and deep operational expertise, AEQUITA acquires and develops companies with long-term value creation potential. For more information, visit http://www.aequita.com.
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Forward-Looking Statements LYB
The statements in this press release regarding matters that are not historical facts are forward-looking statements. Actual results may differ materially based on factors including, but not limited to, our ability to align our asset base with our strategic goals; our ability to create long-term value for our stakeholders; and our ability to build a profitable circular and low-carbon solutions business. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2025, which can be found athttp://www.LyondellBasell.comon the Investors page and on the Securities and Exchange Commission website athttp://www.sec.gov. There can be no assurance that any of the actions, events or results reflected in the forward-looking statements will occur or, if any of them occur, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date on which they are made and are based on the estimates and opinions of LyondellBasell management at the time the statements are made. LyondellBasell assumes no obligation to update any forward-looking statements if circumstances or management’s estimates or opinions change, except as required by law.
