BP's Castrol 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 Inc. and Lone Star Funds, according to people with knowledge of the matter.

- Bloomberg

BP has sent out initial information to other potential bidders for the unit, including investment firms Brookfield Asset Management Ltd 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.

Shares of BP were up 0.8% at 9:43 a.m. Thursday in London, giving the company a market value of about £58 billion ($78 billion).