Borealis completes sale of Portuguese operations to Repsol YPF

01-Dec-2004

The European Commission has cleared the Borealis sale of all assets of the petrochemical complex at Borealis Polímeros Lda. in Sines, Portugal to the Repsol YPF group based in Spain.

The completion of the transaction took place on November 30.

This divestment allows Borealis to concentrate on four major European hubs: Austria, Belgium, Finland and Scandinavia, thus strengthening competitiveness and sustaining future growth. Iberia remains an important market for Borealis and thus its Customer Service Centre in Barcelona is being maintained.

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