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LyondellBasell to seek buyer for Berre, France refinery
1 June 2011: LyondellBasell intends to seek a buyer for the 1,05,000 bpd refinery at Berre, France operated by its subsidiary, Compagnie Petrochimique de Berre S.A.S (CPB). An investment banking firm will be retained to assist with the sales offering.
The refinery, acquired in 2008 by LyondellBasell's former management, has not fulfilled economic projections made at the time of the acquisition.
The Berre site also has a steam cracker and world-scale polypropylene and polyethylene plants that are owned and operated by a subsidiary of LyondellBasell. The company is not looking to sell the olefins and polyolefins units at Berre.
Source: PRNewswire