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 development involving the joint venture between Shell and Exxon Mobil. The figure represents an approximate valuation of the company for the potential sale, rather than an agreed transaction price. Each company owns a 50% stake in Infineum, according to a statement issued by Shell Italy in March 2026. Infineum is headquartered in the United Kingdom, according to its official company profile. It manufactures fuel and lubricant additives, products it said in its sustainability report titled 2023 are sold in more than 90 countries worldwide. Its global workforce totals about 2000 employees, according to its business profile, placing the news in the context of ownership of an industrial business with an international reach.
The partnership between Shell and Exxon Mobil in this business dates back to January 1999, when the Infineum group was established by combining the two companies' additives divisions, according to the group's published history. In an announcement published in February 2024, Infineum outlined a reorganisation of its operations into two strategic business units. The first is called "Sustainable Transportation", while the other is called "Energy Applications", according to the same announcement. On sustainability, the company aims to reduce Scope 1 and 2 greenhouse gas emissions per tonne of product by 35% by 2030. The target is measured against a 2018 baseline, according to the company's net-zero ambitions page. The reduction target is thus expressed in terms of emissions per tonne of output, the metric Infineum has specified for its ambition over the target period.
The potential sale comes as Shell pursues a stated strategy to improve returns from its chemicals business and reduce capital employed in it by 2030. The company said in its strategy statement published in 2025 that its approach in the United States includes exploring strategic and partnership opportunities. In Europe, the plan includes upgrading the quality of assets in the portfolio and selective closures, according to the same statement. The capital reallocation policy extends to other divestments, with Monomoy announcing the completion of its acquisition of Jiffy Lube from a wholly owned Shell subsidiary in the United States for about $1.3 billion. Machteld de Haan, Shell's president of Downstream, Renewables and Energy Solutions, said in the statement announcing the Jiffy Lube sale that the transaction allows it to monetise an asset and "reinvest in opportunities that generate higher returns". The divestment concerns automotive services and lubricants operations, alongside Shell's announced review of its chemicals portfolio.
Shell's divestment proceeds totalled $2.4 billion in 2025, according to its annual report filed with the U.S. Securities and Exchange Commission. That compares with proceeds of $2.8 billion in 2024, according to the same filing. Proceeds in the latest year were lower than in the previous year, in the company's annual comparison of divestment activity. These figures provide financial context for the asset sales Shell is carrying out as part of its capital reallocation. In its schedule of upcoming disclosures, the company set a date to announce its results for the third quarter of 2026. The date also includes the dividend announcement, according to the schedule in its second-quarter results statement. The announcement is scheduled for 29 October 2026.