Apollo Sells Another $1.1B In LyondellBasel Shares

Law360, New York (August 1, 2013, 1:12 PM EDT) -- Apollo Global Management LLC said Thursday it is selling more than $1.1 billion worth of its shares in LyondellBasell Industries NV, the private equity firm's fifth selldown since taking the struggling chemicals maker public in 2010.

Apollo will unload 16.5 million shares at $68 apiece, slightly above the company's closing price on Tuesday. The offering, which represents about one-quarter of Apollo's remaining stake, is expected to close Aug. 6 and is being underwritten by Barclays Capital Inc.

Separately, Apollo is selling 8.5 million shares in a...
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