LyondellBasell Industries (LYB) to sell its Ethylene Oxide & Derivatives unit for $700M
- S&P, Dow eke out another record closing high as Nvidia momentum endures
- Goldman Sachs no longer expects Fed rate cut in May - reports
- Stocks eke out gain as Nvidia rally slows, yields slip
- Oil ends lower, posts weekly decline as US rate cut hopes dim
- Dollar index on track for first weekly fall this year
LyondellBasell (NNYSE: LYB) today announced it has entered into an agreement to sell its Ethylene Oxide & Derivatives (EO&D) business along with the production facility located in Bayport,
"This transaction is evidence of our disciplined focus on value creation through the execution of a key pillar of our strategy – growing and upgrading our core," said
The Ethylene Oxide & Derivatives business in Bayport produces high-quality ethylene oxide and various derivatives. The fully integrated platform with access to cost-advantaged feedstocks and logistics networks has excellent performance and reputation in the market.
The purchase price for the transaction is
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hennessy Advisor (HNNA) Acquires the CCM Core Impact Equity Fund
- Microsoft and OpenAI-backed robotics startup secures funding from Bezos, Nvidia - report
- Phunware (PHUN) Announces 1-for-50 Reverse Stock Split
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Related EntitiesJPMorgan, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!