Shell sells Jiffy Lube to Monomoy Capital for 1.3 billion
Shell is selling Jiffy Lube and Premium Velocity to Monomoy Capital for $1.3 billion. The deal aligns with a strategy to focus on higher-return businesses.
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Energy giant Shell plc announced on Monday its decision to divest its subsidiaries Jiffy Lube and Premium Velocity Auto. The assets will be sold to an affiliate of the private equity firm Monomoy Capital Partners in a deal valued at $1.3 billion.
This move aligns with the broader strategic shift led by CEO Wael Sawan, who has prioritized shedding non-core assets to streamline operations. The strategy aims to refocus the oil major's portfolio on businesses that offer higher returns and long-term growth potential.
