Suitors Line Up for BP’s Castrol Unit

Suitors Line Up for BP’s Castrol Unit

BP's Castrol lubricant business is attracting interest from Reliance Industries, Apollo Global Management and Lone Star Funds, as well as Saudi Aramco.

BP's Castrol Unit Draws Interest From Reliance, Apollo and Lone Star

(Bloomberg) — BP Plc’s Castrol lubricant business is attracting interest from energy companies including Reliance Industries Ltd. and buyout firms such as Apollo Global Management and Lone Star Funds, according to people with knowledge of the matter.

BP’s Castrol unit attracts PE interest - Private Equity Wire

BP’s lubricants business, Castrol, has emerged as a potential multibillion-dollar acquisition target, drawing early-stage interest from a mix of strategic and financial bidders, including Reliance Industries, Apollo Global Management, and Lone Star Funds, according to a report by Bloomberg citing sources familiar with the matter. The UK-based energy major has circulated preliminary information to a broader set of potential buyers, including Broo…

More parties are interested in acquiring motor oil brand Castrol, which is said to have been put up for sale by British oil company BP. According to Bloomberg, Indian conglomerate Reliance Industries and investment companies Apollo Global Management and Lone Star Funds have also set their sights on Castrol.

Castrol Share Price Surges Nearly 7% On Reports Of Buyout Interest By Reliance Industries, Apollo, Lone Star

Castrol India Ltd.'s share price rose nearly 7% after Bloomberg reported that big corporates like Reliance Industries and buyout firms like Apollo and Lone Star expressed interest in acquiring ownership of the company.Earlier in March, BP's lubricants unit had fetched interest from Saudi Arabia's state-owned oil corporation Aramco, according to PTI.Bloomberg reported that banks are willing to back companies in order to bid for Castrol. Additiona…

British energy giant BP PLC is preparing to sell its Castrol lubricants business. Many big names are eyeing the famous company. According to sources, India's Reliance Industries Limited and Saudi Aramco are leading the race to buy it. Apart from this, private equity firms like Apollo Global Management, Lone Star Funds, Brookfield Asset Management and Stonepeak Partners have also shown interest. It is believed that the deal could be done for $ 8 …