Lyondell Chemical Company sells Inorganic Chemicals Business to National Titanium Dioxide Company Ltd. (Cristal)
Lyondell acquired the inorganic chemicals business in its 2004 acquisition of Millennium Chemicals Inc. The other businesses acquired in the 2004 Millennium purchase (e.g., acetyls, flavors and fragrances, and silicas) are not part of the sale. The transaction will not impact Millennium subsidiaries such as Millennium Petrochemicals, Millennium Specialty Chemicals, Millennium Holdings, LLC and those which hold Millennium's 29.5 percent ownership of Equistar Chemicals.
Closing of the transaction is subject to regulatory clearance, compliance with labor and employment regulations, and other conditions that are typical for transactions of this type. Closing is anticipated to occur in the first half of 2007.
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