LYONDELLBASELL
Follow-up: Petchems giant confirms sale of Argentine PP producer Petroken to YPF
LyondellBasell (Houston, Texas / USA; www.lyondellbasell.com) has officially confirmed the sale of its Argentine subsidiary Petroken (Ensenada; www.petroken-pesa.com.ar) to state-owned oil and gas group YPF (Buenos Aires / Argentina; www.ypf.com) and Grupo Inversor Petroquimica (for more detailed coverage, see Plasteurope.com of 12.08.2015). The USD 145m deal on a debt and cash free basis is expected to close in late 2015, following approval by the relevant antitrust authorities.
The two buyers already own a 92% stake in the Latin American country’s sole other PP producer, Petroquimica Cuyo (Lujan de Cuyo / Argentina; www.cuyonet.com). Plasteurope.com’s Polyglobe capacity database (www.polyglobe.net) shows that Petroken operates a 180,000 t/y PP line as well as a 20,000 t/y compounding facility, while Petroquimica Cuyo runs a 130,000 t/y PP line.
The two buyers already own a 92% stake in the Latin American country’s sole other PP producer, Petroquimica Cuyo (Lujan de Cuyo / Argentina; www.cuyonet.com). Plasteurope.com’s Polyglobe capacity database (www.polyglobe.net) shows that Petroken operates a 180,000 t/y PP line as well as a 20,000 t/y compounding facility, while Petroquimica Cuyo runs a 130,000 t/y PP line.
20.08.2015 Plasteurope.com [232013-0]
Published on 20.08.2015
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