LyondellBasell said on June 5, 2025 it entered into a put option letter agreement and exclusive negotiations with AEQ Amethyst B.V. to sell its olefins and polyolefins businesses at Carrington, Tarragona, Münchsmünster and Berre. Under the put option, the buyer has committed to enter into a sale and purchase agreement if the company exercises the put option.

1. 01

   LyondellBasell said on June 5, 2025 it entered into a put option letter agreement and exclusive negotiations with AEQ Amethyst B.V. to sell its olefins and polyolefins businesses at Carrington, Tarragona, Münchsmünster and Berre. Under the put option, the buyer has committed to enter into a sale and purchase agreement if the company exercises the put option.

2. 02

   The company said the base amount under the SPA is €167 million. The base amount will be adjusted downward for net debt, including fixed estimated pension and other liabilities, so the adjusted purchase price will be a nominal amount. The seller will contribute €265 million to the target group before closing, and the buyer will contribute €10 million at closing.

3. 03

   The company said the put option remains in force until the earlier of 10 business days after completion of employee notification and works council consultation, or 12 months from the agreement date. It also said either party will pay the other a termination payment of €25 million in certain cases. The transaction is expected to close in the first half of 2026.

4. 04

   The company expects to recognize a loss on sale of about $700 million to $900 million from the transaction. It said the loss includes the transfer of net working capital of about $340 million and a cash contribution of $300 million to the sold businesses before closing. The target group assets will be presented as held for sale from June 2025.

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