Wedoany.com News, recently, Saudi Basic Industries Corporation (Sabic) announced the sale of its European petrochemical assets and its engineering plastics assets in Europe and America to two German companies, with a total enterprise value of $9.5 billion.

Specifically, its European petrochemical business was sold to the Munich-based private equity firm Aequita SE & Co. KGaA for $5 billion. This business has production bases in the UK, the Netherlands, Germany, and Belgium, with products covering olefins, polyethylene, polypropylene, etc. Aequita had previously acquired LyondellBasell's European olefins assets. This acquisition aims to further integrate platforms and achieve synergies. Meanwhile, Sabic's engineering plastics business in Europe and America was sold to the Munich-based holding company Mutares SE & Co. KGaA for $4.5 billion. The assets are distributed across six countries in Europe and America, producing various engineering plastics such as polycarbonate. The transaction is expected to be completed in the third quarter. Sabic stated that these two sales aim to exit structurally disadvantaged assets and reduce exposure in challenging regions and businesses, implementing the asset restructuring plan announced since the end of 2024.