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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BP:
- BP’s Castrol drawing interest from energy companies, PE firms, Bloomberg says
- CVX, SHEL, BP: Oil Prices Rise as OPEC+ Leaves Output at Current Levels… for Now
- OPEC+ could discuss 2027 baselines, July hike this week, Reuters reports
- BP’s Minimal Insurance Strategy: A Risky Gamble on Financial Resilience
- BP, ADM, Netflix, Charter, Shake Shack: Trending by Analysts