LyondellBasell to sell ethylene oxide & derivatives business to Ineos Oxide for $700 million
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Dow Jones
Chemicals company LyondellBasell Industries N.V. (LYB) said Friday it has entered an agreement to sell its ethylene oxide & derivatives business to Ineos Oxide for $700 million. The deal is expected to close in the second quarter and includes a production facility located in Bayport, Texas. The close will come after the completion of planned maintenance at the facility. Lyondell's stock has gained 11% in the year to date, while the S&P 500 has gained 19.4%.
-Ciara Linnane
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12-08-23 0639ET
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