Phelps advised LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, as local transaction, real estate, construction, environmental and regulatory counsel in its $2 billion acquisition of certain Louisiana assets from Sasol, a global integrated chemicals and energy company spanning 30 countries. As part of the transaction, the two companies entered into a definitive agreement to form a 50/50 joint venture through which LyondellBasell will acquire 50% of Sasol’s 1.5 MM ton ethane cracker, 0.9 MM ton low and linear-low density polyethylene plants and associated infrastructure. The joint venture will operate under the name Louisiana Integrated PolyEthylene JV LLC.
More information about the transaction between LyondellBasell and Sasol is available in the company’s press release.
The Phelps team was led by business and real estate lawyers Ragan Richard, Randy Roussel, Jon Benda and Jaime Hurley, as well as construction lawyers Kelsey Kornick Funes and Amanda Messa and environmental and regulatory lawyers Steven Levine, Paul Guarisco and Dave Topping.