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LyondellBasell set to exit Chapter 11 on 30 April

March 15/2010

March 15 (plasteurope) -- The reorganisation plan for LyondellBasell  approved by New York court on 11 March sets the stage for the group to exit US Chapter 11 on 30 April 2010. The reorganised olefins and polyolefins giant to be shaped in a planned USD 2.8 bn rights issue will be majority owned (51.6%) by private equity group Apollo. Former owner Len Blavatnik will hold 32.24% of shares, Apollos private equity partner Ares 16.2%. All claims of the rights issue sponsors will be met.


LyondellBasell's management rejected the takeover bid by Indias Reliance  as too low.

LyondellBasell: Chapter 11 exit set for 30 April

       MRC Reference

LyondellBasell.  The share in the Russian market in 2008:
 PE  - 1.4% (including HDPE - 2.5%, LDPE 0.3%);
 PP 4.1% (including block-copolymers - 9.5%).

Annual sales growth in Russia, during the recent 5 years:
 PE - 27%;
 PP 88%.

The leader in the following polymers processing technologies:

 pipe extrusion;

 film extrusion;

 injection molding.

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