Johannesburg — South Africa’s Sasol said on Friday chemical company LyondellBasell Industries had agreed to acquire a 50% stake in a unit of its U.S-based business for $2 billion, helping the petrochemicals firm to cut debt. - LyondellBasell to acquire 50 percent of certain Sasol assets in Louisiana HOUSTON and JOHANNESBURG, Oct. 2, 2020 /PRNewswire/ -- LyondellBasell (NYSE: LYB) and Sasol (JSE: SOL) LyondellBasell, Braskem Confirm Merger Talks Discussions are complicated by Braskem’s ownership structure Braskem is co-owned by state oil firm Petrobras and construction firm Odebrecht. Netherlands-based LyondellBasell will acquire a $2 billion stake in South Africa … LyondellBasell; Sasol Limited . 20 November 2019. Dec 02, 2020, 00:10 ET . Completion of divestment and creation of a Joint Venture with LyondellBasell Sasol shareholders are referred to the Company’s Stock Exchange News Service (“SENS”) announcement dated 2 October 2020, containing details of the divestment of a 50% interest in Sasol’s Base Chemicals business at Lake Charles to LyondellBasell (“Transaction”). The LyondellBasell Bayport Underwood Plant, Equistar Chemicals, LP at 5761 Underwood Drive in Pasadena. In South Africa… Cash-strapped Sasol (Johannesburg, South Africa) has received offers from companies including CPChem, LyondellBasell, and Ineos for a large stake in Sasol’s Lake Charles, Louisiana, petrochemical complex, according to a Bloomberg report citing people familiar with the matter. LyondellBasell sells products into more than 100 countries and is the world's largest producer of polymer compounds and the largest licensor of polyolefin technologies. NEWS PROVIDED BY . This polymer is highly compatible with polypropylene due to its similar molecular structure. Africa's continued growth depends on innovations in access to finance. It also produces ethylene, propylene, polyolefins, and oxyfuels. South Africa's Sasol announced chemical company LyondellBasell Industries has agreed to acquire a 50% stake in a unit of its U.S-based business for $2 billion, helping the petrochemicals firm to cut debt. LyondellBasell will operate the assets in Louisiana which include a 1.5m t/y ethane cracker and 900,000 t/y low and linear-low density polyethylene plants. LyondellBasell and Sasol Complete Louisiana Joint Venture Transaction . JOHANNESBURG (Reuters) - South Africa's Sasol said on Wednesday its Louisiana Integrated Polyethylene joint venture (JV) with chemical company LyondellBasell Industries had been established, following closure of the deal on Dec. 1. South Africa's Sasol said on Friday shareholders have approved a proposed agreement to form a joint venture with chemical company LyondellBasell Industries at its U.S Lake Charles Chemicals Project in a bid to pay down its debt pile. Delta was slated to come ashore in Cameron Parish just south of Calcasieu Parish, which also was under a mandatory evacuation order. Houston and Johannesburg–LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, and Sasol (JSE: SOL, NYSE: SSL), a global integrated chemicals and energy company, today announced the closing of their Louisiana-based Integrated Polyethylene Joint Venture (JV) transaction following required regulatory and shareholder approvals. LyondellBasell Industries N.V. (NYSE: LYB) is a Dutch-domiciled multinational chemical company with American and British roots, incorporated in the Netherlands, with U.S. operations headquarters in Houston, Texas, and offices in London, UK.The company is the largest licensor of polyethylene and polypropylene technologies. Engen Petroleum Ltd. is investigating the cause of a Dec. 4 fire that broke out at its 120,000-b/d Enref refinery at Merebank, in Wentworth, south of Durban, South Africa. Houston and Johannesburg – LyondellBasell (NYSE: LYB) and Sasol (JSE: SOL, NYSE: SSL) today announced they have entered into a definitive agreement to form a 50/50 joint venture (JV) through which LyondellBasell will acquire 50 percent of Sasol’s 1.5 MM ton ethane cracker, 0.9 MM ton low and linear-low density polyethylene plants and associated infrastructure for a total LyondellBasell agreed last month to acquire a 50% stake of Sasol's base chemicals business at Lake Charles for $2-billion and operate the newly formed joint venture. LyondellBasell CEO Bob Patel said Dec. 1 during the virtual Citibank basic chemicals conference that the company first discussed such a deal in 2018, but the "timing wasn't right back then." The unit will become a joint venture between the South African company and U.S. chemicals giant, Sasol said in a statement Friday. 12 December 2019. HOUSTON and JOHANNESBURG, Dec. 2, 2020 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the … Adflex C 200 F is developed for the central layer of tough, transparent co-extruded cast-film structures. The Netherlands-based LyondellBasell, which has its operational headquarters and executive team in Houston, will pay South Africa-based Sasol $2 billion for a … HOUSTON and JOHANNESBURG, Dec. 2, 2020 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, and Sasol (JSE: The deal is expected to close at the end of the year. LyondellBasell’s 50/50 JV includes a 0.9 MM ton low-density, 1.5 MM ton ethane cracker and linear-low density polyethylene plants along with related infrastructure near Lake Charles, LA. Increases in M&A value and volume are predicted only in 2021 and 2022. Every day, our employees work around the clock to reliably and safely deliver the chemicals, polymers, fuels and technologies that advance solutions to our world’s biggest challenges. It follows the sale in August of its world-scale oxygen production operations in South Africa to Air Liquide. Private equity in Africa: Why you need a long-term view As part of the agreement, the two companies will form a 50/50 joint venture which will take over the base chemicals business at Lake Charles. The unit will become a joint venture between the Johannesburg-based company and the U.S. chemicals giant, Sas Polybutene-1 (PB-1) grade Toppyl PB 0110M is a semi-crystalline homopolymer, which is used where creep, environmental stress crack resistance and elevated temperature performance are key requirements. (Bloomberg) -- Sasol Ltd. agreed to sell a 50% stake in its U.S. base chemicals business to LyondellBasell Industries NV for $2 billion to help pay down debt. This grade features a very low seal initiation temperature and good optics. LyondellBasell agreed last month to acquire a 50% stake of Sasol's base chemicals business at Lake Charles for $2 billion and operate the newly formed joint … In South Africa: Matebello Motloung, Manager: Group Media Relations Direct telephone: +27 (0) 10 344 9256; Mobile: +27 (0) 82 773 9457 matebello.motloung@sasol.com South Africa 2020: challenges and opportunities in the year ahead. Sasol said the sale will reduce debt from U$10bn to U$8bn to improve its financial outlook. Adsyl 5 C 93 F is an advanced polyolefin, specially designed for use as a sealing or metallized layer in co-extruded film applications. In this announcement, the South African chemicals company has reached an agreement with Dutch-domiciled LyondellBasell Industries to sell a 50% stake of its three Base Chemicals Units (Ethane cracker, LDPE and LLDPE) for U$2bn to slash its debt. As part of the agreement, the two companies will form a 50/50 joint venture which will take over the base chemicals business at Lake Charles. LyondellBasell's letter noted that its Lake Charles operations had been in recovery mode in Laura's aftermath, and the company opted to idle plants in the interest of employee safety and potential impacts from Delta. Sasol Ltd., the South African chemicals and fuel manufacturer, agreed to sell a $2 billion stake in its U.S. base-chemicals business to LyondellBasell Industries NV to help pay down debt. LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. LyondellBasell will buy into Sasol’s new complex ... which suffered complications and cost overruns that led to a shakeup at the company’s headquarters in South Africa. Solving Africa's working capital problem. It combines transparency with high softness , a very high toughness even at low temperatures and an excellent compatibility with other polyolefins. 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