Basell to acquire Shell's share in French ethylene cracker

Shell Chemicals has signed agreements for the sale of Shell Petrochimie Mediterranee's (SPM) 50% share in Société du Craqueur de l'Aubette (SCA) to Basell. SCA owns the ethylene cracker at Berre in southern France and Basell currently holds 50% of the SCA shares. As part of the agreement, Basell will also acquire the butadiene business of Shell at Berre, including the butadiene assets, as well as logistic assets associated with the cracker operation in Aubette, Berre and Fos. The transaction is subject to approval by the relevant antitrust authorities and other customary closing conditions, and is expected to conclude by the end of 2005. The transaction will allow the company to fully integrate the cracker with state of the art PP and PE plants at Berre and PE plant in Fos and will strengthen Aubette as a strategic platform to support our polyolefin business for the long term.