Alexa
  • Directory of Taiwan

Report: LyondellBasell mulls finances

Report: LyondellBasell mulls finances

NEW YORK _ Chemical giant LyondellBasell Industries said it is considering filing for bankruptcy protection, a newspaper said, citing people familiar with the matter.
LyondellBasell, which has U.S. operations, has hired bankruptcy lawyers and is trying to raise as much as $2 billion in financing, these people say, according to The Wall Street Journal. A Chapter 11 bankruptcy protection filing may be near, they say, the newspaper said in a report published Tuesday on its Web site.
Privately held LyondellBasell, the world's third-largest independent chemical company, was formed last year when Dutch chemical company Basell International Holdings BV paid $12.7 billion to buy Houston-based Lyondell Chemical Co., the Journal said.
Debt from the purchase is weighing on the company as sales decline amid a weakening economy, the newspaper said.


Updated : 2021-05-14 22:07 GMT+08:00