09.03.2010

Lyondell Files Restructuring, Rejects Reliance Bid

LyondellBasell filed a restructuring plan on Monday, rejecting a takeover bid from India's Reliance Industries that valued the bankrupt petrochemicals firm at $14.5 billion. As part of its reorganization plan, submitted to a U.S. bankruptcy court, Lyondell will sell 263.9 million Class B shares, mostly through a rights offering backed by private equity firms Apollo Management, Ares Management and Access. more11.02.2010

Braskem: No Immediate Plans for Sunoco's Largest Plant

Braskem said it has no immediate plans affecting Sunoco's largest plant, located in La Porte, TX, the Houston Business Journal has reported. The Brazilian petrochemical company recently agreed to buy the company's polypropylene business, said it has no immediate plans affecting the company's La Porte facility. more04.02.2010

Braskem Acquires Sunoco Chemicals in the U.S.

Braskem has signed an agreement with Sunoco, an U.S.-based oil company, for the acquisition by Braskem of the polypropylene (PP) business of Sunoco Chemicals. Sunoco will receive $350 million for the shares in Sunoco Chemicals (only PP assets), upon closing, within 60 days. This transaction represents an important step in Braskem's international expansion process. more