M&As: Ineos to acquire TotalEnergies’ petchem assets at Lavera; LyondellBasell completes acquisition of Mepol

Borealis to acquire Italian rPP compounds maker

UK’s Ineos says it has signed a deal to acquire TotalEnergies’ 50% share of chemicals and refinery complex assets in Southern France: Naphtachimie (720 ktpa steam cracker), Appryl (300 ktpa polypropylene business), Gexaro (270 ktpa aromatics business) and 3TC (naphtha storage), which are all currently joint ventures between the two companies. A number of other infrastructure assets are also contained in the deal including part of TotalEnergies ethylene pipeline network in France. Terms were not disclosed.

This strategic deal will fully integrate the Naphthachimie, Gexaro and Appryl petrochemical businesses, assets and infrastructure into Ineos Olefins & Polymers South at Lavera in Southern France. Gexaro is located on the Lavera refinery site and will continue to be operated by Petroineos.

Xavi Cros, CEO of Ineos Olefins & Polymers South adds, ​"This is a major step forward for the Ineos French and South European businesses. The acquisition will allow us to fully integrate these assets and enhance the competitiveness of our offer. At the same time our goal is to continue to invest in them, including CO2 reduction to meet our Net Zero 2050 commitment."

As part of the agreement, Ineos will also acquire the southern sections of TotalEnergies’ ethylene pipeline network running from Lavéra to the Lyon region. The central and northern sections, from the Lyon region to the Lorraine region, will be held equally by both companies. Completion of the deal is subject to consultation and regulatory approval and is expected around the end of 2023.

In other news, LyondellBasell has completed the acquisition of Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland. Mepol and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o, will be subsidiaries in LyondellBasell's Advanced Polymer Solutions (APS) business unit.

LyondellBasell's APS segment produces and markets compounding solutions, such as polypropylene compounds, engineered plastics, masterbatches, engineered composites, colors and powders and is a global leader in compounding solutions.

"The acquisition is forward-thinking and aligned with our commitment to a circular economy," said Torkel Rhenman, executive vice president Advanced Polymer Solutions of LyondellBasell. "With Mepol's deep expertise in recycled compounds and LyondellBasell's strategy and scale, we see significant opportunities to accelerate the growth of our APS business by leveraging macro trends in circularity and creating solutions for everyday sustainable living."

LyondellBasell says it is building a leadership position to address the rapidly growing demand for circular and renewable solutions with innovative products and technologies through its integrated value chain approach. The company is committed to produce and market at least 2 million tonnes of polymers from recycled or renewable-based sources annually by 2030, to meet its customers' needs.


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