Chemicals company LyondellBasell Industries N.V.

said Friday it has entered an agreement to sell its ethylene oxide & derivatives business to Ineos Oxide for $700 million. The deal is expected to close in the second quarter and includes a production facility located in Bayport, Texas. The close will come after the completion of planned maintenance at the facility. Lyondell’s stock has gained 11% in the year to date, while the S&P 500

has gained 19.4%.

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