Kirkland Advises LyondellBasell on $2 Billion Polyethylene JV with Sasol

Kirkland counseled LyondellBasell (NYSE: LYB) on its definitive agreement with Sasol (JSE: SOL, NYSE: SSL) to form a 50/50 joint venture (JV) through which LyondellBasell will acquire 50 percent of select assets in Louisiana, including Sasol’s 1.5 MM ton ethane cracker, 0.9 MM ton low and linear-low density polyethylene plants and associated infrastructure for a total consideration of $2 billion.  LyondellBasell will assume operatorship of the JV assets after the closing.

Read the LyondellBasell press release

The Kirkland team was led by transactional partners Bill Benitez, Ahmed Sidik and Chad Smith; and included environmental transactions partner Alex Farmer; technology and intellectual property transactions partner Matt Lovell; tax partner Mark Dundon; executive compensation partner Stephen Jacobson; real estate partner Josh Faulkner; and project finance partner Brian Greene.