Exxon and Lyondell Bid for Shell US Chemical Assets
Energy giants ExxonMobil and LyondellBasell are reportedly competing for Shell's United States chemical assets in a potential eight billion dollar deal. The divestment follows Shell's broader strategy to scale back underperforming operations.
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SHELL PLC drew buyout interest from suitors including EXXON MOBIL CORP and LYONDELLBASELL INDU-CL A for its United States chemical assets in a deal that could fetch up to $8B, according to the Financial Times. The potential sale highlights an ongoing divestment push as energy majors trim underperforming industrial holdings. The reported valuation sits at a steep discount to the total capital deployed into the facilities over previous years.
