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LyondellBasell sells its Argentina-based company, Petroken

by ChemOrbis Editorial Team - content@chemorbis.com
  • 19/08/2015 (11:37)
According to a press release on the company’s website, LyondellBasell has approved the sale of its Argentina-based subsidiary, Petroken Petroquimica Ensenada S.A. to Argentina’s Yacimientos Petrolíferos Fiscales and Spain’s Grupo Inversor Petroquímica. The transaction value was reported at $145 million on a debt and cash free basis while the sale is expected to close by late 2015 following approval from the Brazilian antitrust authority (CADE).

Petroken operates a 180,000 tons/year PP plant in Argentina.

LyondellBasell also reported in the press release that Petroken will continue to provide the same level of support, service and high quality products to its customers until the closure of the sale.
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