Tuesday, January 06, 2009

LyondellBasell locked in talks with creditors

World's third-largest petrochemical maker LyondellBasell, on the brink of bankruptcy, is locked in talks with creditors, two days after a deadline to renegotiate terms of its heavy debt load. LyondelllBasell struggles under a debt burden of US$26 bln, much of which was taken on a year ago in the US$12.

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