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Stock Market & Financial Investment News

News Breaks
June 24, 2014
08:28 EDTLYBLyondellBasell price target raised to $115 from $98 at Cowen
Cowen raised its price target on LyondellBasell to $115 from $98 on expectations of higher margins in its O&P segment and benefits from low cost ethane supply. The firm keeps its Outperform rating on the shares.
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August 18, 2015
09:02 EDTLYBLyondellBasell announces sale of Argentina-based Petroken
LyondellBasell announced that YPF S.A. and Grupo Inversor Petroquimica S.L. have accepted an offer to purchase LyondellBasell's Argentina-based, wholly-owned subsidiary Petroken Petroquimica Ensenada S.A. The sale is expected to close in late 2015 following Brazilian antitrust authority approval. The transaction is valued at $145M on a debt and cash free basis. Based on working capital estimates as of June 30, 2015, expected cash proceeds are $162M. Petroken operates a 180 kiloton polypropylene plant in Ensenada and is a leading polypropylene producer in Argentina.

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