Interest reported in Infineum

CARLYLE GROUP and Kohlberg Kravis Roberts are among several private equity firms keen on British biofuel additives producer Infineum, according to a weekend newspaper report.

Apollo Management, BC Partners, Cinven, and Vestar are the other firms planning to submit bids for Infineum, a firm valued at up to €2.5 billion which is owned by Royal Dutch Shell and ExxonMobil, the Sunday Telegraph reported.

Both Shell and ExxonMobil are keen to secure offers of between €2-2.5 billion for Infineum, which had turnover of about $1.5 billion in 2006. Officials at Infineum could not immediately be reached for comment.

Infineum, which employs 1,600 people globally, is undergoing a strategic review initiated by its shareholders and handled by bankers at JP Morgan. - ( Reuters )

© 2008 The Irish Times

This article appears in the print edition of the Irish Times