# LyondellBasell to buy 35% stake in Alujain's Natpet for $500M

Alujain Corporation agreed to sell a 35% stake in its subsidiary Natpet to Basell International Holdings (LyondellBasell) for $500 million, as part of a joint venture to build a new petrochemical complex in Saudi Arabia.

- Type: Acquisition
- Announced: 2018-03-09
- Where: Riyadh, Saudi Arabia
- Value: $500.0M
- Status: announced
- Products: propylene, polypropylene, specialty plastics
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [LyondellBasell Industries NV](https://endata.com/companies/21448.md) (acquirer)
- [Alujain Corporation](https://endata.com/companies/30599.md) (target)

## Sources

- [tradearabia.com](https://www.tradearabia.com/News/282095/Alujain-to-sell-35pc-stake-in-Saudi-petchem-unit-for-%24500m), 2018-03-09: "This agreement is poised to make a substantial contribution to the realization of Saudi Vision 2030 goals, aiming to maximize added value to the national economy within the sector."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.