LyondellBasell announced it has entered into an agreement to sell its Ethylene Oxide & Derivatives, or EO&D, business along with the production facility located in Bayport, Texas to Ineos Oxide. The Ethylene Oxide & Derivatives business in Bayport produces ethylene oxide and various derivatives. The fully integrated platform with access to cost-advantaged feedstocks and logistics networks has excellent performance and reputation in the market. The purchase price for the transaction is $700M. The transaction is expected to close in the second quarter of 2024 following completion of the planned maintenance at the facility and is subject to regulatory and other customary closing conditions. J.P. Morgan acted as financial advisor and King & Spalding acted as legal counsel to LyondellBasell.
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