Chemical maker LyondellBasell said on Thursday it is in exclusive talks with Munich-based investment firm AEQUITA for the sale of certain olefin and polyolefin assets in Europe.

LyondellBasell Industries N.V. (NYSE:LYB) has announced it has reached an agreement and entered exclusive negotiations with AEQUITA to sell select olefins and polyolefins assets and operations in ...

LyondellBasell's Houston Refinery stopped producing in early 2025. The company plans to convert part of the facility into a chemical recycling facility for plastics.

LyondellBasell will get up to $115 million from the business’s earnings after 3 years. The company expects to record an overall loss of $700 million–$900 million from the sale.