Apollo has joined ExxonMobil and LyondellBasell in bidding for Shell's US chemicals business, which could fetch up to $8bn. The portfolio includes four sites across [ADDRESS], [ADDRESS], and [ADDRESS], with the Monaca complex in [ADDRESS] as its centerpiece. Shell invested $14bn in that facility alone, making the potential sale price a significant discount.

Apollo previously built a notable return on [PERSON_NAME] after its 2009 bankruptcy. For Shell, the sale aligns with CEO [PERSON_NAME]'s strategy to reduce underperforming assets, including chemicals and renewables. The unit was unprofitable until this year, when conflict in [ADDRESS] boosted prices.

Exxon, Lyondell, and Kuwait Petroleum are among those seeking to expand petrochemical holdings. Shell recently acquired ARC Resources for $16.4bn and sold other assets, including a [ADDRESS] gas stake to MOL for $720m. It reported $9.84bn in adjusted Q2 earnings.