LyondellBasell completes sale of key European assets to AEQUITA as strategic reset continues

LyondellBasell (NYSE:LYB) reached a pivotal milestone in its European strategic assessment today, May 1, 2026, with the successful completion of the sale of select European olefins and polyolefins assets to AEQUITA.

The deal, first initiated as part of a broader portfolio optimization strategy, includes integrated cracker and polyolefin sites in Berre, France, and Münchsmünster, Germany, along with standalone polypropylene facilities in Carrington, UK, and Tarragona, Spain.

Following the close of the transaction, the divested business has officially been renamed and will operate as a standalone entity called Velogy.

While the divestiture marks a significant exit from these specific regional commodities, LyondellBasell will maintain a strategic presence in Tarragona by continuing to operate its Advanced Polymer Solutions (APS) business.

The move is designed to enhance the company’s financial flexibility and allow for a more disciplined allocation of capital toward assets with durable competitive advantages and higher long-term returns.

The transaction follows the completion of required employee information and consultation processes.

LyondellBasell management emphasized that the sale is part of a "transformation" aimed at navigating one of the longest downturns in the petrochemical industry's history.

By streamlining its European footprint, the company aims to bolster its focus on specialty polymers and its burgeoning Circular & Low Carbon Solutions business.