AEQUITA to acquire the European petrochemicals business from SABIC for $500m.

AEQUITA, a privately owned industrial group, agreed to acquire the European petrochemicals business from SABIC, a Saudi chemical manufacturing company, for $500m. “This transaction represents a further step in the expansion of our European chemicals platform. The assets are highly synergistic with the olefins and polyolefins business we recently acquired from LYB; with complementary markets, infrastructure and operational capabilities, we see substantial potential to realize synergies and drive operational improvements across both businesses. Under AEQUITA’s active ownership model, our focus will be on supporting the teams on the ground, ensuring a seamless integration, and building a scaled, competitive platform positioned for long-term, sustainable value creation," Axel Geuer, AEQUITA President and Co-CEO.