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...Joshua Harris, another Apollo co-founder who was behind some of the company’s most successful investments such as the takeover of chemicals company LyondellBasell, also left during the turmoil after he was...
...Its aggressive executives leapt on Twinkies maker Hostess Brands, chemicals group LyondellBasell, and other businesses left for dead....
...One was Scott Kleinman, 47, who had joined the group in 1996 and helped to net billions of dollars in profits from Apollo’s 2008 acquisition of the chemicals company LyondellBasell....
...Apollo Global’s Joshua Harris claims that its investment in LyondellBasell was the most profitable deal in the history of private equity....
...LyondellBasell reported record earnings per share for the first quarter of this year....
...LyondellBasell, Third Point added, had “a management team that is focused on being the lowest-cost commodity petrochemical producer and a clear strategy that is driven by upstream profit maximisation.”...
...Share sales included the last slice of LyondellBasell, the chemical company that yielded $10bn in profits for Apollo and its investors....
...Late last year Apollo Global Management sold its last chunk of LyondellBasell, the chemical company that many had given up for dead years earlier....
...It was also boosted by selling a number of its investments in companies including chemicals group LyondellBasell, real estate broker Realogy, and cable operator Charter Communications....
...Besides, in late 2011, several European refiners run by LyondellBasell and plants owned by ConocoPhillips and Sunoco in the US state of Pennsylvania also closed....
...Reliance’s international expansion suffered a setback this year when an attempt to buy LyondellBasell for $14.5bn was thwarted by a management-backed debt restructuring proposal for the the Dutch chemicals...
...In another example, Apollo is likely to make at least four times its money on LyondellBasell, into which it put $1.5bn, one of its largest investments....
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