reuters.com

Exxon, Lyondell among suitors for Shell's US chemical assets, could fetch $8 billion, FT reports

LyondellBasell logoLyondellBasell
Sig1.77Sen+0.92Env0.00Soc0.00Gov0.00
Shell logoShell
Sig2.65Sen+0.63Env-0.48Soc0.00Gov+0.78
Exxon Mobil logoExxon Mobil
Sig3.05Sen+1.25Env-0.30Soc+0.07Gov+0.43

Shell’s U.S. chemicals business may be sold for about $8 billion after suitors including ExxonMobil, LyondellBasell, Apollo and Kuwait Petroleum submitted non-binding offers last month. Bids reportedly ranged from the whole operation to individual parts, a level described as a steep discount to Shell’s capital invested. The unit includes plants at four sites in Louisiana, Texas and Pennsylvania making chemicals for plastics, detergents and pharmaceuticals.

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