LyondellBasell Industries to acquire a minority stake in National Petrochemical Company from Alujain for $500m.

LyondellBasell Industries, a Dutch-domiciled multinational chemical company, agreed to acquire a minority stake in National Petrochemical Company, a company that manufactures petrochemical products, from Alujain, an industrial investment firm, for $500m. "This investment in NATPET reflects our strategy of growing and upgrading our core around assets and businesses with lasting advantages. We are pleased to invest in this joint venture, which leverages LYB's technology, leading global market positions and Alujain's proven operational excellence. We expect the joint venture will add value both through our ownership interest, as well as marketing of the products in key regions," Peter Vanacker, LyondellBasell Industries CEO.