IHS Chemical Week

People & Business :: Earnings/Finance

LyondellBasell Prices Shares

12:20 PM MDT | September 5, 2012 | Vincent Valk

LyondellBasell has priced a previously announced sale of 17.5 million common shares at $46.94/share. The will produce proceeds of $821.3 million for private equity firm Apollo Management, LyondellBasell’s largest shareholder. Access Industries, the company’s second-largest shareholder, opted not to participate in the share sale, LyondellBasell says.   The share offering is expected to close on September 7. Deutsche Bank and Morgan Stanley, book runners on the offering, are entitled to purchase an additional 2.63 million shares in...

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