Shell completes $1.3 billion Jiffy Lube sale and agrees to $1.7 billion Na Kika divestment

Insider Monkey··Read original
3▲1 ▼1Impact / 5
Summary · why it matters

Shell has completed the sale of Jiffy Lube International and its subsidiary Premium Velocity Auto to an affiliate of Monomoy Capital Partners for $1.3 billion, while retaining its Pennzoil Quaker State, Rotella, and other Shell Lubricants brands. Separately, Shell Offshore agreed to sell its 50% non-operated working interest in the Na Kika platform and associated fields in the Gulf of America to subsidiaries of Talos Energy and Ridgewood Energy for a total consideration of $1.7 billion. The transactions are part of a broader asset divestment spree by the global energy company. Shell has grown its dividend at a compound annual growth rate of 17.28% over the past five years. On July 8, Citi lowered its price target on Shell shares to 3,200 GBp from 3,550 GBp while reiterating a Neutral rating.

Impact on assets 3

Energy Transition & Power Demand▼
Shell plc
SHEL
▼ NegativeCapitalrelevance

Shell divests Jiffy Lube and Na Kika assets for $3B, part of asset sales; Citi lowered price target to 3,200 GBp.

Energy▲
Talos Energy
TALO
▲ PositiveCapitalrelevance

Talos Energy acquires Shell's 50% stake in Na Kika platform for $1.7B, expanding its Gulf of America portfolio.

Digital Finance & Tokenization▲

Off-coverage companies 3

Jiffy Lube Internationali
Private± MixedCapitalrelevance

Jiffy Lube sold to Monomoy Capital Partners; future impact unclear as private company.

Monomoy Capital Partnersi
Private▲ PositiveCapitalrelevance

Monomoy Capital Partners acquires Jiffy Lube for $1.3B, expanding its auto service portfolio.

Ridgewood Energyi
Private▲ PositiveCapitalrelevance

Ridgewood Energy acquires part of Shell's Na Kika stake, gaining Gulf of America assets.