INEOS completes acquisition of TotalEnergies' Lavera petrochemical assets in Southern France
INEOS has completed the acquisition of TotalEnergies’ 50% share of Naphtachimie, Appryl, Gexaro and 3TC announced on July 5th. These businesses have been joint ventures between the two companies. A number of other infrastructure assets have also been acquired including part of TotalEnergies ethylene pipeline network in France.
INEOS will now fully integrate the Naphthachimie, Gexaro and Appryl petrochemical businesses, assets and infrastructure into INEOS Olefins & Polymers South at Lavera in Southern France. Gexaro which is located on the Lavera refinery site will continue to be operated by Petroineos.
Xavi Cros, CEO of INEOS Olefins & Polymers South adds, "We are pleased that we have today completed the acquisition of TotalEnergies petrochemical assets at Lavera. This is a major step forward for the INEOS French and South European businesses. We will now fully integrate these assets and enhance the competitiveness of our offer."
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