LyondellBasell has completed a major shake-up of its European operations, offloading key petrochemical assets across four countries in a decisive move to sharpen its focus on higher-return businesses.

 

The chemicals major confirmed it has finalized the sale of select olefins and polyolefins assets—and related operations—to investment firm AEQUITA, marking a significant milestone in its ongoing strategic overhaul in Europe. The deal clears all regulatory hurdles and follows employee consultations, bringing months of planning to a close.

 

The divested assets span major industrial sites in France, Germany, the UK, and Spain, while LyondellBasell retains its Advanced Polymer Solutions business in Tarragona—signaling a more targeted regional presence rather than a full-scale retreat.

 

At the heart of the move is a clear strategy: double down on stronger-performing segments while freeing up capital for future growth.

 

“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 made clear the company is not abandoning Europe, but reshaping its footprint to focus on innovation-driven and sustainable segments.

 

“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.”

 

The newly carved-out business will operate under the name Velogy, as AEQUITA moves to build a stronger foothold in the European polymers sector.

 

“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 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.”

 

With the deal now sealed, LyondellBasell says it will continue operating its remaining assets with a focus on safety, reliability, and consistent service—while channeling investment into businesses it sees as the future of the company.