LYB - Chemical Company LyondellBasell's $500M Move: Fuels Growth In Saudi Arabia With NATPET Deal | Benzinga
LyondellBasell Industries NV (NYSE:LYB) disclosed a deal with Alujain Corporation to acquire a 35% stake in Saudi Arabia–based National Petrochemical Industrial Company (NATPET) for around $500 million.
The technology-enabled JV deal boosts LYB’s access to advantaged feedstocks and attractive markets and positions it to grow and upgrade its core PP business.
The deal is expected to close subject to regulatory and other customary closing conditions.
Together, Alujain and LYB are also assessing potential construction of ...