BP's Castrol unit draws interest from Apollo, India's Reliance, Bloomberg News reports
May 28 (Reuters) - BP's (BP.L), opens new tab Castrol lubricants business is attracting interest from companies such as India's Reliance Industries (RELI.NS), opens new tab, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The business has also attracted interest from buyout firms Apollo Global Management (APO.N), opens new tab and Lone Star Funds, the report said, adding that a deal could fetch between $8 billion and $10 billion.
BP has sent out initial information to other potential bidders for the unit, including Brookfield Asset Management (BAM.TO), opens new tab and Stonepeak Partners, it added.
BP and Apollo Global declined to comment, while Lone Star did not immediately respond to a Reuters request for comment. Reliance Industries did not immediately respond outside business hours in India.
The bidders would join Saudi Aramco (2222.SE), opens new tab in considering bids for all or part of the business. Reuters reported last week that BP is seeking buyers for its Castrol unit, citing sources.
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