Infineum explores sale that could be worth $8 billion, with Bank of America advising

Key Facts

Infineum, the UK-based specialty chemicals group, is exploring a sale that could be worth about $8 billion, according to a Reuters report published on October 22 that cited the Financial Times. The report said the company had hired Bank of America to manage the potential process. Infineum is a joint venture equally owned by Shell and ExxonMobil, putting the two companies on either side of any potential decision about the investment’s future. But exploring a sale does not mean the owners have agreed to exit or that an imminent deal has been secured. The report said the process remains at an early stage and may not result in a transaction.

The discussion centers on a sale of Infineum itself, not on the sale of separate chemical assets belonging to Shell or ExxonMobil. The company produces and markets fuel additives and lubricants, activities that link its potential valuation to the specialty chemicals sector and its global operating presence. Infineum has 6 manufacturing plants in the United States, Brazil, Germany, Italy, Singapore and China, according to its data. It also says its business and technology centers are located in China, Singapore, the United Kingdom, the United States and Japan. This footprint gives a picture of the scale of the group whose sale is being explored, without specifying how assets might be divided or how a potential deal might be structured.

The report said the process could attract interest from private equity firms, but did not identify potential buyers or provide evidence that bids had been received. The appointment of a financial adviser signals the start of preparations for a sale process, while the outcome remains uncertain at this stage. Reuters quoted Shell as saying it “would not comment on the report.” ExxonMobil, Infineum and Bank of America did not immediately respond to requests for comment, according to the report. The published report did not announce an agreement or a timeline for completing a deal.

The partnership dates back to January 1999, when Infineum was established as a joint venture between ExxonMobil and Shell to bring together their additives businesses, according to the company’s history. Its founding provides context for the relationship between the owners and the group for more than a quarter-century, while their stakes remain equal, according to the Reuters report. News of the sale exploration comes as Shell says its strategy includes repositioning its chemicals business to unlock greater value. The company added that its approach requires adjusting investments and business models as demand changes. Shell reported third-quarter results on October 29, 2026, days after the potential sale report was published, but the report did not link the results to the launch of the process or a final decision by the owners.