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Motor Fuel Group-owner among suitors for BP’s $8bn Castrol unit | Money News

The Owner Press by The Owner Press
July 1, 2025
in Business News
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The non-public fairness agency which employs BP’s chairman as an advisor is among the many bidders exploring a takeover of Castrol, the oil large’s lubricant arm which has been put up on the market for about $8bn (£5.8bn).

Sky Information has learnt that Clayton Dubilier & Rice (CD&R) has joined the ranks of strategic and monetary bidders that are a part of an public sale launched by BP earlier this yr.

CD&R’s involvement within the course of is notable as a result of Helge Lund, who’s stepping down as BP chairman within the subsequent 12 months, is an working advisor to the buyout agency.

Money blog: M&S gives update after hack

Mr Lund has no involvement in CD&R’s work on a proposal for Castrol, in keeping with insiders.

The buyout agency is without doubt one of the world’s largest, and owns belongings within the UK together with Morrisons, the grocery store chain, and Motor Gasoline Group.

Bloomberg Information has reported that Apollo International Administration, Lone Star Funds and India’s Reliance Industries are bidders for the lubricants enterprise.

The public sale of Castrol is progressing at a turbulent time for BP, which is beneath siege from Elliott Administration, the activist investor, amid calls for for the corporate to slash prices and enhance profitability.

Final week, London-listed oil rival Shell denied a Wall Avenue Journal report that it was in early-stage talks to purchase BP, saying it had not been actively contemplating a proposal.

Whereas misguided, the story underlined the truth that BP is thought to be a believable takeover goal due to its travails.

Sky Information revealed lately that former Centrica chief govt Sam Laidlaw and Ken MacKenzie, the previous chair of mining large BHP, had been amongst these approached to switch Mr Lund at BP.

Each have now withdrawn from the method.

A spokesman for CD&R declined to remark, whereas BP has been contacted for remark.



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