Lyondell Basell India-based Reliance is continuing to try to purchase the bankrupt chemical giant. The offer, initally tendered in November, stands at $13.5b. The Dutch-based Lyondell is continuing to work through its Chapter 11 reorganization, and recently filed a motion for settling claims of creditors and setting up a litigation trust fund. Bridgepoint Education-Ashford...
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Back from a work and Thanksgiving-induced hiatus. Pretty slow couple of weeks for large firms with a local presence. India’s Reliance Industries has tendered a non-binding offer for LyondellBasell. Details were not disclosed but sources cited by CBS News Marketwatch say it is in the neighborhood of $12 billion. Rumors has been circulating that...
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In business sector, India’s largest company, Reliant Industries continues its interest in acquiring the North American assets of LyondellBasell. The petrochemical giant floundered into debt-induced Chapter 11 bankruptcy last January. Although no public pronnouncement has been made wth regardst to the size of the offer, industry sources say it probably ranges between $3 and...
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Lyondell Chemical was purchased by Netherlands-based firm Basell (owned by a Russian oligarch) in July 2007. The new firm, LyondellBasel, burdened by the $12.7 billion leveraged buyout, filed for Chapter 11 bankruptcy protection in January of 2009. LyondellBasell said yesterday that one of its European holding companies had also filed for bankruptcy protection and...
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