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.Report: Shell PLC Mulls Sale of USD8 billion US Chemical Assets
AASTOCKS News·- Shell PLC is reportedly considering the sale of its US chemical assets, which are potentially valued at up to USD 8 billion. - Potential buyers, including ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation's chemicals division, submitted non-binding indicative bids last month. - The divestment is part of Shell PLC's broader strategy to sell underperforming businesses, with assets spanning four sites in Louisiana, Texas, and Pennsylvania.Shell Could Get $8 Billion for U.S. Chemicals Assets as It Draws Interested Parties, FT Says, Citing Sources
MorningStar·- Shell has received expressions of interest from multiple companies, including Exxon and Apollo, regarding its U.S. chemicals assets. - The British energy major could potentially generate 8 billion dollars from the sale of these assets, which may be sold together or separately. - Representatives from Shell, Exxon, and Apollo declined to comment on the matter.