Davis Polk advised Barclays Capital Inc. as the underwriter in connection with an SEC-registered block trade of 16,500,000 ordinary shares of LyondellBasell Industries N.V. by funds affiliated with Apollo Management Holdings, L.P. The net proceeds of the offering to Apollo were approximately $1.1 billion. The ordinary shares are listed on the New York Stock Exchange under the symbol “LYB.”
LyondellBasell is the world’s third-largest independent chemical company based on revenues and an industry leader in many of our product lines. LyondellBasell is a top worldwide producer of propylene oxide, polyethylene, ethylene and propylene and the world’s largest producer of polypropylene and polypropylene compounds. Additionally, LyondellBasell is a leading provider of technology licenses and a supplier of catalysts for polyolefin production.
The Davis Polk capital markets team included partner Michael Kaplan and associates Christopher R. Bornhorst, Roshni S. Banker and Christopher M. Bezeg. The tax team included partner Michael Farber and associates Craig A. Phillips and Avinash Venkatesh. Counsel Betty Moy Huber and associate Amy E. Turner provided environmental advice. All members of the Davis Polk team are based in the New York office.
Baker Botts L.L.P. advised LyondellBasell and Akin Gump Strauss Hauer & Feld LLP advised Apollo.
