Published by Global Banking & Finance Review®
Posted on May 28, 2025
1 min readLast updated: January 23, 2026
BP's Castrol unit is drawing interest from Reliance and Apollo, with potential bids up to $10 billion. Other bidders include Brookfield and Stonepeak.
(Reuters) -BP's Castrol lubricants business is attracting interest from companies such as India's Reliance Industries, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The business has also attracted interest from buyout firms Apollo Global Management 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 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 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.
(Reporting by Unnamalai L in Bengaluru; Editing by Leroy Leo)
BP's Castrol lubricants business has attracted interest from Reliance Industries, Apollo Global Management, and Lone Star Funds.
The deal for BP's Castrol unit could fetch between $8 billion and $10 billion.
Other potential bidders include Brookfield Asset Management and Stonepeak Partners, along with Saudi Aramco.
Both BP and Apollo Global declined to comment on the interest in the Castrol unit.
BP has sent out initial information to potential bidders for its Castrol lubricants business.
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