PRESS: Shell and ExxonMobil put UK chemicals venture up for sale - FT

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Shell PLC and Exxon Mobil Corp are looking to sell Infineum, their 50-50 chemicals joint venture in the UK, the Financial Times reported on Thursday.

In recent days, Abingdon, Oxfordshire-based Infineum has asked advisers at Bank of America Corp to run a sale of the business, the FT said, citing "people familiar with the matter".

The owners are seeking a USD8 billion valuation for Infineum, the people said, adding that the process is at an early stage and may not result in a transaction.

Infineum International Ltd makes specialty chemicals focused on transport, e-mobility and decarbonisation, according to its website.

Outside the UK, it has business centres in the US, China and Singapore. It has six manufacturing plants: in the US state of New Jersey; in Rio de Janeiro, Brazil; in Cologne, Germany; in Vado Ligure, Italy; in Singapore; and in Zhangjiagang, China. It also has two partner-operated plants in France.

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