# LyondellBasell acquires 50% stake in Sasol's cracker and PE plants in Louisiana

LyondellBasell acquired a 50% stake in Sasol's ethane cracker and two polyethylene plants in Lake Charles, Louisiana, for two-thirds of estimated replacement value.

- Type: Acquisition
- Announced: 2020-10-02
- Where: Lake Charles, Louisiana, United States
- Value: $2.00B
- Status: completed
- Capacity: 1.5 MM ton/year ethane cracker, 0.9 MM ton/year LDPE and LLDPE plants
- Products: ethylene, low-density polyethylene, linear-low density polyethylene
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [LyondellBasell](https://endata.com/companies/1444.md) (acquirer)
- [Sasol](https://endata.com/companies/8322.md) (partner)
- [Sasol](https://endata.com/companies/8322.md) (target)

## Sources

- [hydrocarbonprocessing.com](https://www.hydrocarbonprocessing.com/news/2020/10/lyondellbasell-gets-to-buy-from-sasol-50-of-cracker-two-pe-plants-at-two-thirds-of-value), 2020-10-01: "LyondellBasell got 'full capacity and immediate financial benefits of a new, operational, world-scale integrated cracker complex with minimal exposure to risk of project execution, timing uncertainty and opportunity cost'"
- [sasol.com](https://sasol.com/divestment-50-interest-sasol-s-lccp-base-chemicals-business-and-creation-jv-lyondellbasell), 2020-10-02: "The Company has been assessing partnering options for its US base chemicals assets, situated at Sasol’s Lake Charles property in Louisiana."
- [lw.com](https://www.lw.com/en/news/2020/10/advises-sasol-in-formation-of-joint-venture-with-lyondellbasell), 2020-10-02: "Latham & Watkins LLP represents Sasol in the transaction."
- [sasol.com](https://www.sasol.com/lyondellbasell-and-sasol-form-integrated-polyethylene-joint-venture), 2020-10-02: "LyondellBasell and Sasol today announced they have entered into a definitive agreement to form a 50/50 joint venture through which LyondellBasell will acquire 50 percent of Sasol's 1.5 MM ton ethane cracker, 0.9 MM ton low and linear-low density polyethylene plants."
- [advfn.com](https://www.advfn.com/stock-market/NYSE/LYB/stock-news/83386604/lyondellbasell-shares-up-after-2-billion-jv-deal), 2020-10-02: "This investment represents a unique opportunity to bring together the best of both companies and create deep, long-term value while immediately realizing the many benefits of new, strategically-located, world-scale assets."
- [ivsinvestmentbanking.com](https://ivsinvestmentbanking.com/lyondellbasell-sasol-form-integrated-polyethylene-joint-venture/), 2020-11-05: "LyondellBasell and Sasol have entered into a definitive agreement to form a 50/50 joint venture (JV) through which LyondellBasell will acquire 50 percent of Sasol’s 1.5-million- ton ethane cracker, 0.9-million-ton low and linear-low density polyethylene plants, and associated infrastructure for a to"

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