Exxon, Lyondell Among Suitors for Shell's US Chemical Assets, Could Fetch $8 Billion, FT Reports
Potential buyers have submitted non-binding offers for the division, which could fetch about $8 billion, sources said.
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Exxon Eyes Shell’s $8 Billion U.S. Chemicals Business
Exxon is in the running for Shell’s U.S. chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments. The U.S. supermajor is competing with LyondellBasell, Apollo Global Management, and the Kuwait Petroleum Corporation, the unnamed sources also told the publication. The potential buyers have submitted non-binding offers to Shell, with these ranging from offers to buy parts…
Several parties are interested in acquiring Shell's US chemical operations, according to the business newspaper Financial Times. These include companies such as ExxonMobil, LyondellBasell, and investment firm Apollo, which have expressed interest to Shell, sources told the British newspaper.
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Times of IndiaExxon, Lyondell among suitors for Shell's US chemical assets, could fetch $8 billion, FT reports
Shell is reportedly seeking to sell its U.S. chemical assets for up to eight billion dollars. Several major companies and a private equity firm have expressed interest in these facilities. Potential buyers submitted non-binding offers last month for the entire business or parts. This divestment aligns with Shell's strategy to focus on upstream operations. The energy major recently sold its European renewables power business to TotalEnergies.
The oil giant wants to sell its chemical plants in the United States. Several large companies have already made it known that they are interested. Read more Shell's American chemistry attracts large fish from the sector appeared first on Le Singulier.
Exxon, Lyondell among suitors for Shell's US chemical assets, could fetch US$8 bil, FT reports
BENGALURU (Aug 24): Oil major Shell has drawn interest from potential bidders, including ExxonMobil and LyondellBasell, for its US chemical assets that could fetch up to US$8 billion, the Financial Times reported on Monday.
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