Infineum explores potential sale at valuation of about $8 billion, Financial Times reports
Key Facts
Infineum has hired Bank of America advisers to manage a potential sale at a valuation of about $8 billion, the Financial Times reported, in a move involving the Shell-ExxonMobil joint venture. The valuation relates to the potential sale rather than an agreed price for a transaction. The partnership dates back to January 1999, when the Infineum group was established as a joint venture between the two companies, according to the group's published official history. Infineum produces fuel and lubricant additives sold in more than 90 countries worldwide, according to its sustainability report, giving its industrial business a reach beyond its manufacturing sites. The company employs about 2000 people globally, according to its official business profile. Its portfolio includes more than 1800 patents and patent applications worldwide, according to its technology page, alongside its additive production and sales operations.
As for its production base, Infineum says it operates 6 plants and has two additional sites in France operated by site partners. In its latest cited industrial expansion, the company announced the opening of a new product blending facility in India on 9 March 2026. The opening formed part of the company's expansion in the Indian market, which Chief Executive Aldo Govi has given a prominent place in its plans. Govi said in the opening statement: "India plays a critical role in Infineum's global growth strategy." Also in the Asia-Pacific region, Infineum announced the signing of a strategic framework agreement with China's Rianlon. Rianlon manufactures specialty chemicals and is based in Tianjin, China, according to Infineum's statement, which discussed the agreement in the context of strengthening the region's supply chain.
The potential sale comes against the backdrop of Shell's announced plans for its chemicals portfolio, with approaches differing between the United States and Europe. In the United States, the strategy includes exploring strategic and partnership opportunities, according to the company's statement on accelerating delivery of its strategy. In Europe, it includes upgrading the quality of assets in the portfolio and selectively closing some operations, according to the same statement. In a separate statement on the sale of Jiffy Lube, Shell confirmed it would retain its lubricant brands, including Pennzoil, Quaker State, Rotella and other Shell brands. It also confirmed it would retain its lubricant marketing, manufacturing and distribution businesses in the United States and Canada, keeping those operations in its portfolio after the Jiffy Lube sale.
Alongside the portfolio moves and industrial expansion, Shell Energy Italia and Infineum Italia signed a gas supply agreement that includes the provision of up to 880 gigawatt hours of biomethane in total over the term of the agreement, according to a Shell Italia statement. The agreement stipulates that the biomethane will be produced locally in Italy. At Infineum's industrial site in Cologne, the company is working with RheinEnergie to develop a solar power project, according to its announcement of the project. The project is expected to generate about 18 million kilowatt hours annually, with operations scheduled to begin in 2027. On its upcoming disclosure calendar, Shell set 29 October 2026 as the date for announcing its third-quarter results and dividends, according to the schedule published in its quarterly results statement.