Latest news with #Castrol-branded
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
Time of India
3 days ago
- Business
- Time of India
BP's Castrol business draws interest from Reliance, Apollo and Lone Star
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 has sent out initial information to other potential bidders for the unit including investment firms Brookfield Asset Management and Stonepeak Partners, the people said, asking not to be identified because discussions are private. The business could fetch between $8 billion and $10 billion in a deal, the people said. The suitors would join the world's biggest energy company, 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, the people said. Some suitors could team up as well. Meanwhile, bankers are considering providing around $4 billion-equivalent of debt to back potential bids for the unit, according to people familiar with the matter. The financing is expected to be denominated in different currencies including euros and dollars to maximize liquidity, and will possibly be made up of leveraged loans and high yield bonds, they added. It is one of the few buyout financings expected to hit the market this year and is likely to garner attention from bankers looking and investors alike. As part of a major corporate revamp, BP started a strategic review of the Castrol-branded business. Activist investor Elliott Investment Management has emerged as one of the company's largest shareholders and has been pressing management to make bolder changes. BP's big strategy reset is already looking shaky due to lower oil prices. This could raise pressure on the company for successful asset sales. The Castrol business includes lubricants for autos and industries, and it has been developing liquid cooling technology for artificial intelligence data centers . Its operations in fast-growing markets like India are particularly interesting to Reliance and Aramco, some of the people said.
Economic Times
3 days ago
- Business
- Economic Times
BP's Castrol business draws interest From Reliance, Apollo and Lone Star
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 has sent out initial information to other potential bidders for the unit including investment firms Brookfield Asset Management and Stonepeak Partners, the people said, asking not to be identified because discussions are private. The business could fetch between $8 billion and $10 billion in a deal, the people said. The suitors would join the world's biggest energy company, 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, the people said. Some suitors could team up as well. Meanwhile, bankers are considering providing around $4 billion-equivalent of debt to back potential bids for the unit, according to people familiar with the matter. The financing is expected to be denominated in different currencies including euros and dollars to maximize liquidity, and will possibly be made up of leveraged loans and high yield bonds, they added. It is one of the few buyout financings expected to hit the market this year and is likely to garner attention from bankers looking and investors alike. As part of a major corporate revamp, BP started a strategic review of the Castrol-branded business. Activist investor Elliott Investment Management has emerged as one of the company's largest shareholders and has been pressing management to make bolder changes. BP's big strategy reset is already looking shaky due to lower oil prices. This could raise pressure on the company for successful asset sales. The Castrol business includes lubricants for autos and industries, and it has been developing liquid cooling technology for artificial intelligence data centers. Its operations in fast-growing markets like India are particularly interesting to Reliance and Aramco, some of the people said.
Time of India
3 days ago
- Business
- Time of India
BP's Castrol business draws interest From Reliance, Apollo and Lone Star
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 has sent out initial information to other potential bidders for the unit including investment firms Brookfield Asset Management and Stonepeak Partners, the people said, asking not to be identified because discussions are private. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo The business could fetch between $8 billion and $10 billion in a deal, the people said. The suitors would join the world's biggest energy company, 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, the people said. Some suitors could team up as well. Live Events Meanwhile, bankers are considering providing around $4 billion-equivalent of debt to back potential bids for the unit, according to people familiar with the matter. The financing is expected to be denominated in different currencies including euros and dollars to maximize liquidity, and will possibly be made up of leveraged loans and high yield bonds, they added. It is one of the few buyout financings expected to hit the market this year and is likely to garner attention from bankers looking and investors alike. As part of a major corporate revamp, BP started a strategic review of the Castrol-branded business. Activist investor Elliott Investment Management has emerged as one of the company's largest shareholders and has been pressing management to make bolder changes. BP's big strategy reset is already looking shaky due to lower oil prices. This could raise pressure on the company for successful asset sales. The Castrol business includes lubricants for autos and industries, and it has been developing liquid cooling technology for artificial intelligence data centers . Its operations in fast-growing markets like India are particularly interesting to Reliance and Aramco, some of the people said.
Argaam
05-03-2025
- Business
- Argaam
Aramco mulls bid for BP's Castrol lubricant assets: Report
Saudi Arabian Oil Co. (Saudi Aramco) is considering a potential bid to acquire BP's lubricants assets, including those operating under the Castrol brand, Bloomberg reported, citing sources. Discussions are still in the early stages, with Aramco evaluating whether to make an offer for part or all of the Castrol-branded business, the report said. No final decision has been made on the structure of a potential bid, it added. Bloomberg also noted that BP is currently reviewing its strategy for Castrol's lubricants business, which could be valued at up to $10 billion.
