LyondellBasell scrip added to S&P 500 Index

Dutch petro-chemicals giant LyondellBasell has announced the entry of its stock in the Standard & Poor's 500 Index, at the close of market on Tuesday, 4 September 2012.

Rotterdam, Netherlands-based LyondellBasell replaces retailer Sears Holdings Corp, which trades on Nasdaq, on the S&P 500 index.

Sears, which had been hit by stressed sales, store shutdowns, brand spinoffs and consumer skepticism, has lost out in the stock market also with its stock continuing to slip. (See: LyondellBasell to replace Sears Holdings in S&P 500)

"We are pleased to be recognised among the leaders in important industries within the US economy," said Jim Gallogly, LyondellBasell CEO. "Our inclusion in the S&P 500 is a testament to our progress toward making LyondellBasell the top competitor in the chemical industry. We are well-positioned to benefit from the development of US shale gas resources, which provide access to low-cost feedstocks. Our expansion projects to extend this advantage are progressing on schedule," he added.

LyondellBasell was added to the S&P 500 GICS (Global Industry Classification Standard) specialty chemicals sub-industry index.

In connection with the inclusion of LyondellBasell stock in the S&P 500 index, the company also announced that certain affiliates of Apollo Management Holdings LP and certain affiliates of Access Industries, Inc intend to offer for sale, subject to favorable market conditions and other factors, including stock price volatility, 17.5 million shares of the company's ordinary shares (and expect to grant the underwriters a 30-day option to purchase up to an additional 2.625 million ordinary shares) to satisfy a portion of the index-based demand for the company's ordinary shares as a result of the inclusion.