Market Overview

LyondellBasell's Selling Shareholders Price Offering of Ordinary Shares

LyondellBasell (NYSE: LYB) today announced that affiliates of Apollo Management Holdings L.P. have priced a public offering of 17.5 million ordinary shares of LyondellBasell at a price to the public of $46.94 per share. The net proceeds to Apollo, after deducting discounts and commissions, will be approximately $821.3 million.  The offering is expected to close Sept. 7, 2012, subject to the satisfaction of customary closing conditions.  Affiliates of Access Industries, Inc. determined not to participate in the offering.

Goldman, Sachs & Co., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC acted as joint book-runners for the offering.  In connection with the offering, Apollo granted them an option to purchase up to an additional 2.625 million ordinary shares.

The ordinary shares were issued pursuant to an effective shelf registration on file with the Securities and Exchange Commission.  This press release shall not constitute an offer to sell or a solicitation of an offer to buy the ordinary shares nor shall there be any sale of these shares of ordinary shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of

See full press release

Posted-In: News Guidance

 

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