Exxon, Lyondell among suitors for Shell's US chemical assets, could fetch US$8 billion, FT reports
Businesstimes News·
- Shell has attracted interest from potential bidders like ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation for its US chemical assets.
- The US chemical assets, comprising plants across four sites in Louisiana, Texas, and Pennsylvania, could potentially fetch up to US$ 8 billion following non-binding offers submitted in July.
- This divestment aligns with Shell's broader strategy to sell underperforming chemical plants and scale back certain investments to focus on upstream operations.