Assets Transition to AEQUITA Ownership
On May 1, 2026, LyondellBasell announced the successful completion of the sale of specific European olefins and polyolefins assets to AEQUITA. This pivotal transaction aligns with the company’s strategic realignment efforts. Completion followed necessary employee consultations and regulatory approvals, ensuring a smooth transition.
These divested assets are located in various regions, including Berre in France, Münchsmünster in Germany, Carrington in the UK, and Tarragona in Spain. Meanwhile, LyondellBasell will continue operations in Tarragona with its Advanced Polymer Solutions business, maintaining a strategic presence in the area.
“This transaction represents a pivotal achievement in our transformation,” remarked Peter Vanacker, Chief Executive Officer of LyondellBasell. “By finalizing this sale, we have refined our portfolio and enhanced our capacity to allocate capital toward high-return opportunities that contribute to long-term value creation.”
Vanacker further emphasised the importance of Europe to LyondellBasell, stating, “Europe remains an integral market for LYB; we will continue to invest where value creation is strong, reinforcing our leadership in specialty polymers, building a profitable Circular & Low Carbon Solutions business, and advancing our leadership in technology and innovation.”
New Chapter for Velogy
The divested business will now be known as Velogy, marking a fresh start under AEQUITA’s ownership. Dr.-Ing. Axel Geuer, Founder and Chairman of AEQUITA, expressed excitement about the future collaboration with Velogy’s employees. He highlighted the strong fundamentals and long-term value potential within the European polymers market.
“This closing marks an important step in building a scaled and competitive European polymers platform,” Geuer stated. “We thank LyondellBasell for the constructive collaboration throughout the process and are excited to begin the next step of partnering with Velogy’s employees to reinforce and further enhance the company’s leading services to customers and suppliers.”
Following this transition, LyondellBasell remains committed to operating its remaining assets safely and reliably. Customers and partners can expect the same high standards as before. Financial advisors Citi and J.P. Morgan Securities LLC, along with legal counsel Linklaters LLP, facilitated the transaction, ensuring a seamless asset transfer to AEQUITA.
Last updated: 2 May 2026, 4:19 am
