LyondellBasell plans share repurchase, Apollo culls stake again

LyondellBasell Industries (Rotterdam) says it will ask shareholders to approve the repurchase of up to 10% of outstanding shares over a period of 18 months. Under Dutch law, companies must receive shareholder approval to repurchase shares. Separately, private equity firm Apollo Management has priced a public offering of 25 million shares in LyondellBasell at $61.50/share. The sale by Apollo will be the fourth block of LyondellBasell shares it has sold since last September. Apollo sold 17.5 million shares in September at $46.94/share; 20 million shares at...

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