BP Plc’s Castrol lubricant division has emerged as a hot acquisition target, drawing attention from major players in the energy sector and private equity. Among those reportedly interested are India’s Reliance Industries Ltd., along with global investment firms such as Apollo Global Management and Lone Star Funds, according to sources familiar with the matter.
BP has already circulated preliminary details about the potential sale to several prospective bidders. This includes prominent firms like Brookfield Asset Management and Stonepeak Partners. While discussions remain confidential, the growing interest signals a potentially competitive bidding process for the well-known lubricant brand.
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