Shell Sells Jiffy Lube International for $1.3 Billion

Shell Plc has reached an agreement to sell Jiffy Lube International and its subsidiary, Premium Velocity Auto, to an affiliate of Monomoy Capital Partners for $1.3 billion. Bloomberg posted on X, highlighting the strategic move by Shell to streamline its operations. This transaction marks a significant shift in Shell's business strategy, focusing on its core energy operations. The sale is expected to be finalized following regulatory approvals and customary closing conditions. This decision aligns with Shell's broader plan to optimize its portfolio and enhance shareholder value.