ROTTERDAM, The Netherlands and
SAO PAULO, June 15, 2018 /PRNewswire/ -- LyondellBasell,
(NYSE: LYB), one of the largest plastics, chemicals and refining
companies in the world, and Odebrecht S.A., the controlling
shareholder of Braskem (NYSE: BAK, B3: BRKM5, BRKM3), a leading
plastic producer in the Americas, in a joint statement today
announced the companies have entered into exclusive discussions
regarding a potential transaction between LyondellBasell and
Braskem.
The companies jointly stated:
"Both LyondellBasell and Braskem share a strong culture of
operational excellence and legacies of value-creating innovation.
We believe that the potential combination of LyondellBasell's and
Braskem's complementary strengths, product portfolios and
operational footprints would create significant value for our
shareholders, customers and employees."
"Braskem's board of directors and management have been informed
of the existence of these discussions. The discussions are
preliminary and no agreements have been reached. Among other
things, the parties will need to complete appropriate diligence,
negotiate definitive agreements and obtain corporate approvals.
There can be no assurance the discussions will result in a
transaction or on what terms any transaction may occur.
LyondellBasell and Odebrecht S.A. do not intend to make any further
comment unless and until the discussions conclude or are required
by applicable law."
About LyondellBasell
LyondellBasell (NYSE: LYB) is one
of the largest plastics, chemicals and refining companies in the
world. Driven by its 13,400 employees around the globe,
LyondellBasell produces materials and products that are key to
advancing solutions to modern challenges like enhancing food safety
through lightweight and flexible packaging, protecting the purity
of water supplies through stronger and more versatile pipes, and
improving the safety, comfort and fuel efficiency of many of the
cars and trucks on the road. LyondellBasell sells products into
approximately 100 countries and is the world's largest licensor of
polyolefin technologies. In 2018, LyondellBasell was named to
Fortune magazine's list of the "World's Most Admired Companies."
More information about LyondellBasell can be found at
www.LyondellBasell.com.
Forward-Looking Statements
The statements in this
release 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. Factors
that could cause results to differ materially from those described
in the forward-looking statements include those found in the "Risk
Factors" section of our Form 10-K for the year ended December 31, 2017, 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.
Media Contacts:
LyondellBasell
Michael Waldron
Vice President, Global Corporate Communication
LyondellBasell
1221 McKinney Street, Suite 300
Houston, Texas 77010 USA
Office: +1-713-309-3312
Michael.Waldron@lyondellbasell.com
www.lyondellbasell.com
Odebrecht S.A.
Shirley Emerick
Communication
Odebrecht
Rua Lemos Monteiro, 120 16o
andar
São Paulo - SP - 05.501-050
Office: +55 11 3096-8319
shirleyemerick@odebrecht.com
www.odebrecht.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/lyondellbasell-and-odebrecht-sa-enter-into-exclusive-discussions-concerning-braskem-300666969.html
SOURCE LyondellBasell