LyondellBasell completes sale of European olefins and polyolefins asset
Last update on May 4, 2026
Formulators and engineers sourcing polyolefins in Europe will need to account for a structural change in the regional supply landscape. LyondellBasell has completed the sale of select European olefins and polyolefins assets – located in Berre (France), Münchsmünster (Germany), Carrington (UK), and Tarragona (Spain) – to AEQUITA. The divested business will now operate as Velogy.
Scope of transaction
LyondellBasell states it will continue to operate its Advanced Polymer Solutions (APS) business in Tarragona, which is not included in the divestiture. The sale follows completion of required employee information and consultation processes and satisfaction of customary regulatory and closing conditions.
According to LyondellBasell, the divestiture supports a strategy focused on assets and businesses with durable competitive advantages and stronger long-term returns, while enhancing financial flexibility and supporting disciplined capital allocation.
“This transaction represents a pivotal achievement in our transformation,” said 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 added, “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. We extend our gratitude to our colleagues transferring as part of this transaction for their contributions, professionalism, and resilience throughout the process. As they transition to a standalone business under AEQUITA ownership, we wish them and the new company success in the next chapter ahead.”
“This closing marks an important step in building a scaled and competitive European polymers platform, a sector where we see strong fundamentals and attractive long-term value creation potential,” said Dr.-Ing. Axel Geuer, AEQUITA-founder and chairman. “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.”
LyondellBasell states it remains committed to operating its remaining assets and continuing to serve customers and partners.