BP’s Castrol drawing interest from energy companies, PE firms, Bloomberg says

BP’s (BP) Castrol lubricant business is attracting interest from energy companies like Reliance and buyout firms such as Apollo Global Management (APO) and Lone Star Funds, Bloomberg’s Dinesh Nair, Mitchell Ferman, Ruth David, and Swetha Gopinath report, citing people with knowledge of the matter. BP has sent out initial information to other potential bidders for the unit including investment firms Brookfield Asset Management (BAM) and Stonepeak Partners, the people say, adding that the unit could fetch $8B-$10B in a deal.