Monday, December 31, 2007

LyondellBasell to commence with smooth transition for both partners

In July, Basell decided to buy Lyondell's outstanding common shares for US$48 each in an all-cash transaction that, with debt assumed by Basell, was valued at about US$20 billion. Last month, Lyondell shareholders voted to approve the deal, and the transaction closed before year-end as scheduled.

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