Shell PLC received interest from multiple suitors for its U.S. chemical assets. The potential deal carries a valuation of up to $8 billion. Reported bidders include ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation.
The portfolio consists of four plants located in Louisiana, Texas, and Pennsylvania. These facilities produce chemicals for plastics, detergents, and pharmaceuticals. Interested parties submitted non-binding offers for the entire business or specific segments last month.
The sale aligns with Shell’s strategy to divest underperforming assets and focus on core oil and gas operations. The $8 billion valuation represents a significant discount on Shell’s total capital investment in these facilities. Sources indicate no certainty that a final deal will occur.