Ineos Oxide Ltd. entered into an agreement to acquire Ethylene Oxide & Derivatives (EO&D) business and production facility at Bayport Texas of LyondellBasell Industries N.V. for approximately $700 million on December 8, 2023. The purchase price is subject to working capital and other adjustments. The transaction is expected to close in the second quarter of 2024 following completion of the planned maintenance at the facility and is subject to regulatory and other customary closing conditions. As per filing on April 26, 2024, the transaction is expected to close in the second quarter of 2024. J.P. Morgan acted as financial advisor and King & Spalding acted as legal counsel to LyondellBasell.

Ineos Oxide Ltd completed the acquisition of Ethylene Oxide & Derivatives (EO&D) business and production facility at Bayport Texas of LyondellBasell Industries N.V. on May 1, 2024.