HOUSTON and LONDON, July 12,
2019 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today
announced the final results of its "modified Dutch Auction" tender
offer, which expired one (1) minute after 11:59 p.m., New York
City time, on July 8,
2019.
Based on the final count by Computershare Trust Company, N.A.,
the depositary for the tender offer (the "Depositary"), a
total of 35,144,596 shares of LyondellBasell's ordinary shares,
€0.04 par value per share, were properly tendered and not properly
withdrawn at or below the purchase price of $88.00 per share.
LyondellBasell has accepted for purchase 35,144,596 shares at a
price of $88.00 per share, for an
aggregate cost of approximately $3.09
billion, excluding fees and expenses relating to the tender
offer. These shares represent approximately 9.5 percent of the
shares outstanding as of July 8,
2019.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
acted as dealer managers for the tender offer. Shareholders who
have questions or would like additional information about the
tender offer may contact the information agent for the tender
offer, Georgeson LLC, toll-free at (866) 300-8594.
About LyondellBasell
LyondellBasell is one of the
largest plastics, chemicals and refining companies in the world.
Driven by its 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, improving the safety,
comfort and fuel efficiency of many of the cars and trucks on the
road, and ensuring the safe and effective functionality in
electronics and appliances. LyondellBasell sells products into more
than 100 countries and is the world's largest producer of polymer
compounds and the largest licensor of polyolefin technologies. In
2019, 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 based on
factors including, but not limited to: the business cyclicality of
the chemical, polymers and refining industries; the availability,
cost and price volatility of raw materials and utilities,
particularly the cost of oil, natural gas, and associated natural
gas liquids; competitive product and pricing pressures; labor
conditions; LyondellBasell's ability to attract and retain key
personnel; operating interruptions (including leaks, explosions,
fires, weather-related incidents, mechanical failure, unscheduled
downtime, supplier disruptions, labor shortages, strikes, work
stoppages or other labor difficulties, transportation
interruptions, spills and releases and other environmental risks);
the supply/demand balances for LyondellBasell's and
LyondellBasell's joint ventures' products, and the related effects
of industry production capacities and operating rates;
LyondellBasell's ability to achieve expected cost savings and other
synergies; LyondellBasell's ability to successfully execute
projects and growth strategies; any proposed business combination,
the expected timetable for completing any proposed transactions and
the receipt of any required governmental approvals, future
financial and operating results, benefits and synergies of any
proposed transactions and future opportunities for the combined
company; legal and environmental proceedings; tax rulings,
consequences or proceedings; technological developments, and
LyondellBasell's ability to develop new products and process
technologies; potential governmental regulatory actions; political
unrest and terrorist acts; risks and uncertainties posed by
international operations, including foreign currency fluctuations;
and LyondellBasell's ability to comply with debt covenants and
service LyondellBasell's debt. The accuracy of our expectations and
predictions is also subject to the following risks and
uncertainties: (1) the price and time at which we may make any
additional share repurchases following completion of the tender
offer and the number of shares acquired in such repurchases; and
(2) changes in general economic, business and political conditions,
including the possibility of intensified international hostilities,
acts of terrorism, and changes in conditions of the United States or international lending,
capital and financing markets. 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 LyondellBasell's Form 10-K for the year ended
December 31, 2018, 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.
Investor Contact: David
Kinney +1 713-309-7141
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SOURCE LyondellBasell Industries