# LyondellBasell to acquire 35% stake in NATPET for $500M

LyondellBasell has entered into an agreement to acquire a 35% interest in Saudi Arabia-based NATPET from Alujain Corporation for approximately $500 million. The joint venture will use LYB's Spheripol PP technology.

- Type: Acquisition
- Announced: 2024-01-16
- Where: Yanbu Industrial City, Saudi Arabia
- Value: $500.0M
- Status: announced
- Capacity: 400,000 tons per year of polypropylene
- Products: polypropylene
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [LyondellBasell](https://endata.com/companies/1444.md) (acquirer)
- [Alujain Corporation](https://endata.com/companies/30599.md) (partner)
- [National Petrochemical Industrial Company](https://endata.com/companies/37735.md) (target)
- [NATPET](https://endata.com/companies/75027.md) (target)

## Sources

- [lyondellbasell.com](https://www.lyondellbasell.com/en/who-we-are/updates-events/corporate--financial-news/lyb-enters-into-agreement-to-acquire-35-of-saudi-arabia-based-natpet-expands-core-pp-business/), 2024-01-16: "This investment in NATPET reflects our strategy of growing and upgrading our core around a"
- [linknovate.com](https://www.linknovate.com/news/mergers-and-acquisition-activity-in-nonwovens-16971681/), 2024-01-22: "LyondellBasell has agreed to buy a 35% stake in Saudi Arabia-based NATPET for approximately …"
- [lyondellbasell.com](https://www.lyondellbasell.com/en/who-we-are/updates-events/corporate--financial-news/lyondellbasell-reports-2023-earnings/), 2024-02-02: "Entered agreement to acquire 35% of NATPET, a Saudi Arabian PDH/PP joint venture, for $500 million."

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