LYB · 10-Q · 2026Q3 · Full report
Acquisition / Partnership / Divestiture
LyondellBasell Industries N.V. · 2026-10-30 · Importance 53 · Surprise 60 · Matches filing data
On May 1, 2026, LyondellBasell completed the sale of selected European olefins and polyolefins assets and related businesses in Berre l’Etang, France; Münchsmünster, Germany; Carrington, United Kingdom; and Tarragona, Spain. The transaction generated a $734 million pretax loss, included a $310 million cash contribution to the divested group, and involved sites representing approximately 25% of O&P-EAI production capacity. Separately, on October 29, 2026, the company agreed to sell Houston Refining, L.P., which owns the former Houston refinery site and related assets, to a Valero Energy Corporation subsidiary for a purchase price not shown in the filing text; the sale is expected to close in the fourth quarter of 2026, subject to regulatory and customary conditions.
Key facts
- In the second quarter of 2026, the company divested select European olefins and polyolefins assets and associated businesses and recognized a $734 million pre-tax loss. source
- The company entered into an equity purchase agreement on October 29, 2026, to sell Houston Refining, L.P. and its former Houston refinery site and related assets to a Valero Energy Corporation subsidiary for a purchase price not disclosed in the supplied text; closing is expected in fourth-quarter 2026, subject to regulatory and customary conditions. source
- The company recognized $734 million of pre-tax loss on the May 2026 divestiture of select European olefins and polyolefins assets and associated businesses. source
- The European sites sold represented approximately 25% of O&P-EAI production capacity. source
- The Houston Refining, L.P. sale is expected to close in the fourth quarter of 2026, subject to regulatory and other customary closing conditions. source
- In connection with the May 2026 European asset sale, the company made a $310 million cash contribution to the divested group. source
- LyondellBasell ceased business operations at its Houston refinery in February 2025 and reports the refining business as a discontinued operation. source
- O&P-EAI olefins results reduced third-quarter 2026 EBITDA by 15%, driven by lower volumes following the divestiture of certain European assets and related businesses. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -8.6% | The company recognized $734 million of pre-tax loss on the May 2026 divestiture of select European olefins and polyolefins assets and… |