Brief: Exxonmobil, Lyondellbasell To Invest In Agilyx JV Cyclyx
26/10/2023 15:37
Oct 26 (Reuters) - Agilyx ASA AGLX.OL :
* HAS SIGNED BINDING AGREEMENT WITH EXXONMOBIL AND LYONDELLBASELL TO INVEST IN CYCLYX, ITS
WASTE
PLASTIC SOURCING AND PROCESSING JOINT VENTURE
* UNDER AGREEMENT, LYONDELLBASELL WILL BECOME A PARTNER IN THE JOINT VENTURE AND, WITH
EXXONMOBIL,
WILL TOGETHER INVEST $135 MILLION INTO CYCLYX
* AS A RESULT OF TRANSACTION, IT IS EXPECTED THAT CYCLYX WILL NO LONGER BE CONSOLIDATED
WITHIN
AGILYX AND WILL BE ACCOUNTED FOR USING THE EQUITY METHOD
Source text for Eikon: ID:nObiLjLJla
Further company coverage: AGLX.OL
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