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Lyondell Chemical Co .plans to reorganization.

suniljain's picture
Submitted by suniljain on December 15, 2009 - 14:23

Lyondell Chemical Co `plans to reorganize by repaying its $8 billion bankruptcy loan
in full and giving an equity stake in the new company to lenders,
including sponsors of a $2.8 billion rights offering. The plan,
outlined in US Bankruptcy Court in Manhattan, “won’t preclude Reliance
from making a bid if it chooses to do so,” said LyondellBasell
spokesman David Harpole.

News URL:  http://www.bloombergutv.com/industry-news/other-industry-news/40132/lyon...

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