JPMorgan is assisting the companies to conduct a strategic review. Shell and ExxonMobil are believed to be looking to secure bids in the range of €2bn (US$2.6bn) to €2.5bn.
Shell and ExxonMobil each hold a 50% stake in Infineum, which was set up in 1999. Infineum, headquartered in the UK, has regional business and technology centres in the UK, US and Singapore.
Apax and Tchenguiz at odds over Somerfield sale
Two of the main shareholders in
Apax, however, is stalling due to lack of interest, with just one bid received from rival chain the
Other retailers such as Marks and Spencer, Waitrose, William Morrison and J Sainsbury are not believed to have submitted proposals.
Saint-Gobain and Wendel reach agreement
Wendel has since mid-2007 built an 18% stake in Saint-Gobain. Wendel and Saint-Gobain agreed on March 20 that Wendel would not increase its stake in Saint-Gobain beyond 21.5%. Under the agreement, Wendel will exercise voting rights over no more than 34% of Saint-Gobain’s shares. Wendel will get three seats on the Saint-Gobain board.
3i shifts to later-stage and buyouts
Philip Yea, chief executive of 3i, is reported saying that “early-stage has not been an easy place”. He added that there is “more value for us in later-stage companies internationally and that is what we have been doing more and more”.