January 8, 2026 14:05
The Saudi group Sabic today announced the divestment, through two separate transactions, of its European Petrochemicals (EP) and Engineering Thermoplastics (ETP) businesses in Europe and the Americas, for a total value of more than USD 950 million.
The European petrochemicals operations will be sold to the German financial investor Aequita – already in the running for LyondellBasell’s European polyolefins (read here) – for USD 500 million.
The scope of the transaction includes the production and sale of ethylene, propylene, low-, linear low- and high-density polyethylene (LDPE, LLDPE and HDPE), polypropylene (PP) and compounds at the production sites in Teesside (United Kingdom), Geleen (Netherlands), Gelsenkirchen (Germany) and Genk (Belgium).
“This transaction represents a further step in the expansion of our European chemicals platform,” explained Axel Geuer, President and Co-CEO of Aequita. “The assets are highly synergistic with the olefins and polyolefins business we recently acquired from LyondellBasell.” “With complementary markets, infrastructure and operational capabilities, we see significant potential to realize synergies and drive operational improvements across both businesses,” he added.
In a second deal, the engineering thermoplastics activities, based in Europe and the Americas, will be transferred to the German investment holding Mutares, for an enterprise value of USD 450 million, plus an earn-out component linked to performance over the next four years or to a future sale of the business by Mutares.
Sabic’s ETP segment includes resins and compounds based on polycarbonate (PC), polybutylene terephthalate (PBT) and acrylonitrile-butadiene-styrene (ABS), with well-established brands such as Lexan, Cycoloy, Valox and Cyclolac, and sales of around USD 2.5 billion.
The business comprises resin production capacity of 1,085,000 tonnes per year and 780,000 t/y of compounding, with nearly 2,900 employees across eight plants located in the Americas and Europe: Mt. Vernon, Ottawa, Bay St. Louis and Burkville in North America, Tampico (Mexico), Campinas (Brazil), Cartagena (Spain) and Bergen op Zoom (Netherlands).
For Mutares, this is the largest transaction completed in its history. Once finalized, it will give rise to a new strategic segment, Chemicals & Materials, which will also include the Venator Ultramarine Blue Pigments activities.
Completion of both transactions, expected in the second half of 2026, is subject to customary closing conditions and regulatory approvals, including employee consultations where required.
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