LyondellBasell has agreed to sell its Ethylene Oxide & Derivatives (EO&D) business and production facility in Bayport, TX, USA, to INEOS. The EO&D business produces high-quality ethylene oxide and various derivatives. The fully integrated platform, with access to low-cost feedstocks and logistics networks, has an excellent performance and reputation in the market, LyondellBasell said.

The purchase price for the transaction is $700 million. The transaction is expected to close in the second quarter of 2024, following the completion of planned maintenance at the facility, and is subject to regulatory and other customary closing conditions.

• LyondellBasell, Rotterdam, The Netherlands