Shell and ExxonMobil have hired Bank of America to explore the sale of Infineum, their 50/50 joint venture based in Oxfordshire. The specialty chemicals business generates between $700m and $800m in annual EBITDA. Private equity firms are among potential interested parties, though the process is in its early stages and may not lead to a deal.
At a targeted price of 10 to 11 times earnings, the implied valuation would be approximately $8 billion. People familiar with the matter indicated that financial sponsors are being considered as prospective buyers, but no final decision has been made regarding the transaction.
Source: PE Insights · Summarized by HeadlinesBriefing