ROTTERDAM, the Netherlands - Basell AF and Lyondell Chemical Co. have completed their merger, creating LyondellBasell Industries, the world’s third-largest independent chemical company.
LyondellBasell businesses include polymers, chemicals, fuels and technology, with combined pro forma revenues of nearly U.S. $43 billion for the 12 months ending Sept. 30, 2007. The company has 60 manufacturing sites in 19 countries on five continents and nearly 15,000 employees worldwide.
Basell, which is owned by Access Industries, acquired Lyondell’s outstanding common shares for $48 per common share in an all-cash transaction with a total enterprise value of approximately $20 billion, including the assumption of debt.
LyondellBasell is a leader in polyolefin technology, production and marketing, producing polypropylene and advanced polyolefin products, supplying polyethylene and catalysts, and licensing polypropylene and polyethylene processes. The company also produces propylene oxide, derivatives and advanced fuel products.