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Shell to sell US chemical assets worth up to US$8 billion; ExxonMobil, LyondellBasell among suitors
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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.
Source report
Exxon Mobil and LyondellBasell are among the potential buyers for Shell's US chemical assets, a deal that could be valued at up to US$8 billion, according to a report by the Financial Times.
The potential sale comes as the British energy major seeks to divest underperforming chemical plants as part of a broader portfolio restructuring.
Other interested parties include:
- Apollo Global Management
- The chemicals arm of state-owned Kuwait Petroleum Corporation
Source
The Business TimesNeutral / independent
Part of this Story
Exxon and Others Bid for Shell's $8B US Chemicals Business