The Saudi Arabian chemical company is divesting itself of its petrochemical and plastics plants. These are being sold to a holding company and a financial investor.

As announced by Sabic, investors from Germany will become the new owners of significant parts of the European production network. In a double transaction, the company sold its European petrochemicals business (EP) and its engineering thermoplastics (ETP) division to Munich-based companies Aequita and Mutares. The total value of the deal is reported to be US$950 million.
 
The enterprise value of EP, which is going to Aequita, is estimated at US$500 million. According to the information provided, it comprises the manufacture and marketing of various products such as ethylene, propylene, low- and high-density polyethylene (LDPE, LLDPE, and HDPE), polypropylene (PP), and other plastics at several locations, including Teesside (UK), Geleen (Netherlands), Genk (Belgium), and Gelsenkirchen (Germany). In June 2025, Aequita had already entered into an agreement with LyondellBasell to acquire four European olefin and polyolefin plants in Berre, France, Münchsmünster, Germany, Carrington, UK, and Tarragona, Spain. The transaction is expected to close by the end of 2026.
 
According to the information provided, the separate Sabic business with high-performance plastics in Europe and the USA will go to the financial investor Mutares for USD 450 million. According to Sabic, this transaction includes the production of polycarbonate (PC), polybutylene terephthalate (PBT) and acrylonitrile butadiene styrene (ABS) plastics. In Europe, this primarily affects the Bergen op Zoom site in the Netherlands and the Cartagena site in Spain. The acquisition also gives Mutares plants in the US, including Mt. Vernon and Bay St. Louis, as well as in Mexico and Brazil.
 
Sabic says the sale to the German investors is part of a strategy that has been in place since 2022 to focus the portfolio on high-margin markets and increase return on capital. The group emphasizes that access to European markets will remain guaranteed through exports even after the sale. The completion of the transactions is still subject to regulatory approvals and consultation with employee representatives.
 
Sources:

• Press release Sabic (8.1.2026)
• Presse release LyondellBasell (5.6.2025)
• Photo: © Sabic