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LyondellBasell announces final results of modified Dutch Auction tender offer

July 19/2019

MOSCOW (MRC) -- LyondellBasell has announced the final results of its "modified Dutch Auction" tender offer, which expired one minute after 11:59 p.m., New York City time, on July 8, 2019, as per the company's press release.

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shares of LyondellBasell's ordinary shares, EUR0.04 par value per share, were properly tendered and not properly withdrawn at or below the purchase price of USD88.00 per share.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 USD3.09 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.

As MRC reported previously, in August 2016, LyondellBasell made the final investment decision to build a high density polyethylene (HDPE) plant on the US Gulf Coast. The plant will have an annual capacity of 1.1 billion pounds (500,000 metric tons) and will be the first commercial plant to employ LyondellBasell's new proprietary Hyperzone PE technology. The start-up of the new plant is scheduled for 2019.

LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 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.
Author:Margaret Volkova
Tags:PP, PE, HDPE, LyondellBasell, USA.
Category:General News
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