Shell to sell US chemical assets worth up to US$8 billion; ExxonMobil, LyondellBasell among suitors

Published Aug 25, 01:27 PM UTC

Shell is seeking to divest its underperforming US chemical plants, with potential suitors including ExxonMobil, LyondellBasell, Apollo Global Management, and the chemicals arm of Kuwait Petroleum Corporation. The assets could fetch up to US$8 billion, according to a Financial Times report. The divestiture is part of Shell's strategy to shed underperforming assets and focus on more profitable operations. The sale process is attracting major industry players and private equity interest, signaling significant consolidation potential in the US chemicals sector.