Shell draws interest from bidders including Exxon for $8 billion US chemical assets, FT reports

Business Recorder, citing the Financial Times, reported that Shell has attracted interest from potential buyers for its US chemical assets. The bidders named include Exxon and LyondellBasell, and the package may be valued at up to $8 billion. The FT report, published on Monday, concerns Shell, an oil major with US chemical holdings. The account does not state a final price or timetable for any transaction.

Apollo, a private equity house, and the chemicals arm of Kuwait Petroleum Corporation are also described as interested buyers. The FT account rests on people familiar with the matter. The list of potential buyers therefore mixes large corporate groups with a financial investor and a state-owned chemicals arm.