Access Industries
 |
|
| Private | |
| Industry | Conglomerate |
| Founded | 1986 |
| Founder | Leonard Blavatnik |
| Headquarters | New York City, New York, United States |
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Key people
|
Leonard Blavatnik (Chairman) |
| Products |
Music Entertainment Chemistry Natural resource |
| Owner | Leonard Blavatnik |
| Divisions | Access Entertainment |
| Subsidiaries |
Warner Music Group RatPac-Dune Entertainment |
| Website | www.accessindustries.com |
Access Industries, Inc. is a privately held American holding company that was founded in 1986 by Soviet-born Leonard Blavatnik, who is also its chairman. Access’s industrial focus is in three areas: natural resources and chemicals; media and telecommunications; and real estate. It is the owner of Warner Music Group.
In 2005, Access acquired Basell Polyolefins, a former joint venture between Royal Dutch Shell and BASF. Basell, headquartered in Hoofddorp, The Netherlands, was a leading company in the technology, production and marketing of polyolefins. Basell’s polyolefin materials and production technologies were used for diverse consumer applications, including packaging and automotive to medical and consumer goods.
On December 20, 2007, Basell completed its acquisition of the Lyondell Chemical Company, paying $48 per share in cash to the latter's shareholders. Including the assumption of Lyondell debt, the deal had an enterprise value of approximately $19 billion. The resulting company, LyondellBasell Industries is the world's third-largest chemical company based on net sales.
On January 6, 2009, the U.S. operations of LyondellBasell Industries filed for bankruptcy. On April 30, 2010, LyondellBasell emerged from Chapter 11 bankruptcy protection in a significantly improved financial position. As part of its exit financing, LyondellBasell raised $3.26 billion of first priority debt as well as $2.8 billion through the rights offering jointly underwritten by Access Industries, Apollo Management and Ares Management. Access currently owns approximately 14% of LyondellBasell.
In 1997, Access acquired a stake in the Russian oil company TNK. In 2003, half of TNK was sold to British Petroleum (BP) to form TNK-BP, marking the largest-ever foreign investment in a Russian company. On March 21, 2013, Rosneft completed its $55 billion acquisition of TNK-BP.
In 1996, Access helped to form SUAL, one of the world’s largest aluminum producers, through direct investment and the merger of assets. In early 2007, SUAL merged with RUSAL and the alumina business of Glencore International AG to form UC Rusal, the world’s largest vertically integrated aluminum producer.
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