LyondellBasell To Acquire 35% Of Saudi Arabia-Based NATPET From Alujain Corporation For ~$500M
Portfolio Pulse from Benzinga Newsdesk
LyondellBasell (LYB) is set to acquire a 35% stake in Saudi Arabia's NATPET from Alujain Corporation for approximately $500 million. This joint venture will enhance LYB's access to advantaged feedstocks and attractive markets, including existing assets and planned growth projects.
January 16, 2024 | 1:19 pm
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LyondellBasell's acquisition of a 35% stake in NATPET for $500M is expected to strengthen its position in advantaged feedstocks and attractive markets.
The acquisition is significant for LYB as it represents a strategic investment in a joint venture that is expected to provide access to advantaged feedstocks and growth in attractive markets. This could lead to improved profitability and market share, which is likely to be viewed positively by investors in the short term.
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