LyondellBasell Industries N.V 8-K, filed Dec 8, 2023
LyondellBasell Industries N.V. (LYB)
8-K
2023-12-08
For: 2023-12-08
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Added on
April 08, 2026
About this 8-K
LyondellBasell Industries N.V filed this 8-K on December 8, 2023.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 8, 2023
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Item 8.01 Other Events.
In March 2023, LyondellBasell Industries N.V (the “Company”) announced its new strategy, which included a strategic pillar focused on growing and upgrading its core assets. At that time, the Company also announced its decision to explore strategic options for its U.S. Gulf Coast-based ethylene oxide & derivatives (“EO&D”) business, which had been identified as non-core.
On December 8, 2023, the Company announced that it has entered into a definitive agreement to sell its EO&D business along with the production facility located in Bayport, Texas to INEOS Oxide for a total purchase price of $700 million. The transaction is expected to close in the second quarter of 2024, following the completion of planned maintenance at the facility, and remains subject to regulatory and other customary closing conditions.
Cautionary Note Regarding Forward-looking Statements
The statements in this Form 8-K relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially from the anticipated results, or other expectations expressed in this Form 8-K, including, but not limited to, receipt of required regulatory approvals or the expiration of applicable waiting periods; the satisfaction of closing conditions; our ability to complete the transaction described in this release within the time period suggested; and our ability to implement our strategy and successfully align our asset base with that strategy. While these statements and projections are made in good faith, LyondellBasell and its management cannot guarantee that anticipated future results will be achieved. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2022, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| LYONDELLBASELL INDUSTRIES N.V. | ||||||||||||||||||||
| Date: | December 8, 2023 | |||||||||||||||||||
| By: | /s/ Jeffrey A. Kaplan | |||||||||||||||||||
| Jeffrey A. Kaplan | ||||||||||||||||||||
| Executive Vice President | ||||||||||||||||||||
| and General Counsel | ||||||||||||||||||||