Noerr Advises AEQUITA on Strategic SABIC Petrochemical Acquisition
European law firm Noerr advised AEQUITA on acquiring Saudi Basic Industries Corporation’s (SABIC) European Petrochemical business. This transaction, following AEQUITA's previous acquisition of LyondellBasell’s olefins and polyolefins business, aims to consolidate the European Olefins & Polyolefins sector. SABIC is divesting this unit, along with its Engineering Thermoplastics business, to optimize its portfolio and redirect resources towards core growth areas. The deal is expected to finalize by late 2026.
European law firm Noerr successfully advised Munich-headquartered industrial group AEQUITA on its strategic acquisition of Saudi Basic Industries Corporation’s (SABIC) European Petrochemical business. This significant transaction marks a further step in AEQUITA's expansion, following its recent purchase of LyondellBasell’s olefins and polyolefins business, also advised by Noerr. The acquisitions are intended to consolidate the Olefins & Polyolefins sector across Europe, leveraging substantial potential for synergies and operational improvements, as highlighted by AEQUITA's Co-CEO Dr. Axel Geuer.Leading the Noerr advisory team were private equity partner Christoph Thiermann and M&A partner Jan-Philipp Meier, supported by various specialist practices. Riyadh-based SABIC divested this business, alongside its regional Engineering Thermoplastics business to MUTARES, as part of a broader Portfolio Optimization Program initiated in 2022. SABIC CEO Abdulrahman Al-Fageeh emphasized that these sales allow the company to redirect financial resources towards areas of expected growth and sharpen its focus on competitive advantages. Goldman Sachs and Lazard provided financial advice to SABIC, KPMG offered tax advice, and A&O Shearman handled legal aspects. The transaction is subject to regulatory approvals and is anticipated to close by the end of 2026.
