NEW YORK (Reuters) – Lyondell Chemical Co said on Friday that it has exited bankruptcy after a 16-month process during which its debt load was reduced to about $5 billion from $24 billion. The company, which went bankrupt last January after a drop in business due to the economic downturn left it unable to make [...]

MUMBAI (Reuters) – LyondellBasell has rejected Reliance Industries’ (RELI.BO) offer that values the bankrupt U.S. petrochemicals group at $14.5 billion, Bloomberg said on Tuesday, a decision that could leave the Indian energy group having to look elsewhere for takeover targets. Reliance, controlled by India’s richest man, Mukesh Ambani, has said his company plans an aggressive [...]

(Reuters) – A creditor group led by U.S. private equity firm Apollo Management [APOLO.UL] is expected to to reject India’s Reliance Industries Ltd’s (RELI.BO) bid for bankrupt chemicals maker LyondellBasell, the New York Post said, citing people familiar with the situation. The move would pave the way for Apollo to merge LyondellBasell with its Hexion [...]

HONG KONG (Reuters) – Asia’s top oil refiner China Petroleum and Chemical Corp and U.S. private equity firm TPG Capital are not considering a bid to buy bankrupt chemical company LyondellBasell Industries, said a source close to the situation on Wednesday. “That’s completely incorrect,” said the source, commenting on a Bloomberg report that the oil [...]

NEW YORK (Reuters) – Private equity firm Apollo Management LP is among the largest creditors of Lyondell Chemical Co., Bloomberg reported, citing a person with direct knowledge of the matter. The U.S. operations of LyondellBasell, the world’s third-largest petrochemical company, filed for bankruptcy protection on Tuesday, under the weight of a massive debt load and [...]