Latest news with #Castrol
India.com
a day ago
- Automotive
- India.com
Mukesh Ambani plans to buy a big British company for Rs 83000 crore, company is..., bidding to start from...
British energy giant BP is planning to sell its lubricant business, Castrol. According to a report by Bloomberg, BP has already started the process to find a buyer. Castrol is known for making industrial and automotive lubricants and has a strong global presence. As per the report, several large business groups and investment firms have shown interest in buying Castrol and among them is Reliance Industries Limited, owned by billionaire Mukesh Ambani. Other major investment companies like Apollo Global Management and Lone Star Funds are also preparing to take part in the deal. Citing sources, the report said the potential deal for Castrol could be worth between USD 8-10 billion (approximately Rs 66,400 crore to Rs 83,000 crore), adding that initial bids are expected to begin in the coming few weeks, and it is likely that several companies may place bids together. Why is BP selling Castrol? BP is selling Castrol as part of its plan to reduce debt. Back in February, the company announced it would sell some of its assets to raise around USD 20 billion by 2027. The sale of Castrol is part of that strategy. According to reports, BP has already shared early details about the sale with potential buyers, including big names like Brookfield Asset Management and Stonepeak Partners. The deal could fetch BP anywhere between USD 8 to USD 10 billion. The sale process is still in its early stages, and initial bids are expected in the coming weeks. So far, there's no final decision or confirmed price. There's also talk that Saudi Aramco, the world's largest energy company, might join the bidding. In March, it was reported that Aramco was considering an offer. Some buyers may even team up to make a joint bid. What makes Castrol valuable? Castrol is well known for producing lubricants for cars and industrial use. In recent years, it has also been developing liquid cooling technology for AI data centers, a field that's gaining a lot of attention as artificial intelligence grows. Reliance Industries other acquisition Mukesh Ambani's Reliance Industries is also known to have acquired assets in the UK, including the Stoke Park luxury hotel and the toy retailer Hamleys. Reliance Industries is a global conglomerate with diverse interests including petroleum refining, petrochemicals, and retail.
Time of India
2 days ago
- Business
- Time of India
Reliance Industries, Aramco among suitors for Castrol business
Photo/Agencies BP's Castrol lubricant business is attracting interest from energy companies including Reliance Industries and buyout firms, such as Apollo Global and Lone Star Funds, people with knowledge of the matter said. BP has sent out initial information to other potential bidders for the unit, including Brookfield Asset Management and Stonepeak Partners, the people said. The business could fetch $8-10 billion. The suitors would join Saudi Aramco in considering bids for all or part of the business. The process is still in the early stages, with initial bids expected in several weeks, so price and outcome remain open.. Some suitors could team up as well. Representatives for BP, Apollo, Lone Star, Brookfield and Stonepeak declined to comment, while a spokesperson for Reliance wasn't immediately available for comment. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
2 days ago
- Automotive
- Yahoo
BP (BP) Nears Castrol Sale Amid Strategic Shifts and Investor Pressure
On May 28, Bloomberg reported that BP Plc (NYSE:BP) is considering selling its Castrol lubricant business as part of an ongoing strategic review, citing internal sources. The report states that energy companies such as India's Reliance Industries Ltd., along with private equity and investment firms including Apollo Global Management Inc. (NYSE:APO), Lone Star Funds, Brookfield Asset Management Ltd. (NYSE:BAM), and Stonepeak Partners, could emerge as potential suitors. The Castrol business manufactures lubricants for automobiles and various industries. The asset has drawn particular interest due to its strong exposure to the fast-growing Indian market. However, these developments are not new or surprising, as discussions have been going on for some past months. In March, Bloomberg had reported that Saudi Arabian oil giant Saudi Aramco was considering acquiring part or all of BP's Castrol unit. These new potential buyers are expected to participate in the bidding process alongside Aramco. According to Bloomberg estimates, the Castrol assets could fetch as much as $10 billion. BP's Mumbai-listed subsidiary, Castrol India Ltd., currently has a market capitalization of approximately $2.5 billion. Before that, on February 26, 2025, BP management unveiled a strategic plan to divest around $20 billion in assets by the end of 2027. The Castrol lubricants business was among the first to undergo review. The plan aims to sharpen the company's focus on its core operations while reversing the earlier plan to scale back investment in low-carbon energy. As part of this strategy, BP also reduced its share buybacks to between $750 million and $1 billion per quarter, down from $1.75 billion previously. BP's strategic shift follows growing pressure from activist investor Elliott Investment Management, which disclosed a stake of over 5% in the company in April. Elliott is compelling BP to generate $20 billion in annual free cash flow by 2027, cut costs, and divest non-core assets. While the process remains in its early stages and none of the involved parties have confirmed details, Bloomberg estimates that it could be several weeks before initial bids are submitted. While we acknowledge the potential of BP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BP and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
2 days ago
- Automotive
- India.com
BIG move by Mukesh Ambani as Reliance boss sets sights on new business in deal worth Rs 830000 crore; the company is…, Ambani faces competition from…
Mukesh Ambani (File) Mukesh Ambani, the richest man in India and all of Asia, has reportedly set his sights on venturing into the lubricant oil business. According to a report by Bloomberg, the Reliance Industries Chairman is eyeing to purchase Castrol– the lubricant brand owned by British Petroleum. As per the report, several major firms, including Mukesh Ambani-led Reliance Industries, Apollo Global Management, Lone Star Funds, as well as Saudi Aramco– the world's largest oil company– have expressed interest in purchasing or acquiring a major stake in Castrol lubricants. Other potential buyers include Brookfield Asset Management and Stonepeak Partners, even as names of other companies have been kept under the wraps because discussions are still in the initial stage, Bloomberg reported. Rs 83000 crore deal Citing sources, the report said the potential deal for Castrol could be worth between $8-10 billion (approximately Rs 66,400 crore to Rs 83,000 crore), adding that initial bids are expected to begin in the coming few weeks, and it is likely that several companies may place bids together. Meanwhile, banks have expressed willingness to finance the potential Castrol deal with a loan of up to $4 billion, which will be made available in different currencies. The loan is likely to include leveraged loans and high yield bonds, as per the report. According to experts, this could be one of the few major financing deals in the market this year, and thus bankers and investors are keeping a close watch. British Petroleum to sell Castrol British Petroleum (BP) has initiated a major restructuring of the company, which includes reviewing its lubricant business that operates under the brand name Castrol. US investment giant Elliott Investment Management, one of the largest shareholders in BP, is reportedly putting pressure on the company to review its businesses amid falling oil prices, which may result in the firm selling some of its assets, including Castrol. BP's Castrol business makes lubricants for auto and industry, in addition to liquid cooling solutions for artificial intelligence (AI) data centers. Experts believe Reliance and Aramco and majorly interested in Castrol's operations in fast-growing markets like India.
News18
2 days ago
- Automotive
- News18
Castrol India Jumps 6% On Report Of Fresh Buying Interest In BP's Lubricants Business
Last Updated: Shares of Castrol India surged 6% following report that BP Plc's Castrol lubricants unit is drawing acquisition interest from major players Castrol India Share Price: Shares of Castrol India surged 6% on May 29 following a Bloomberg report that BP Plc's Castrol lubricants unit is drawing acquisition interest from major players, including Reliance Industries Ltd., Apollo Global Management, and Lone Star Funds. According to the report, a potential deal for the business could be valued between $8 billion and $10 billion. As of 1:45 PM, Castrol India was trading at Rs 219 per share, up 6% for the day. The stock has a 52-week high of Rs 284.4 and a low of Rs 162.6, with a current market capitalisation of approximately Rs 21,600 crore. The report added that BP has shared initial information with other potential suitors, including Brookfield Asset Management and Stonepeak Partners. These firms would join Saudi Aramco, which is also reportedly exploring a bid for all or part of the lubricants business. The development follows BP's strategic review of its Castrol-branded global lubricants division, announced in February. The review is part of a broader corporate restructuring in response to pressure from activist investor Elliott Investment Management, which has become one of BP's largest shareholders. 'Castrol is a leading and trusted global lubricants brand, marketing premium products in more than 150 countries," BP said. 'It serves automotive, marine, industrial, and energy sectors, with growth ambitions across mobility services, industrial lubricants, and even data center fluids." The renewed buyer interest in BP's lubricants arm has sparked investor optimism around Castrol India, BP's listed Indian subsidiary. First Published: May 29, 2025, 14:28 IST
