BP's Castrol unit draws interest from Apollo, India's Reliance, Bloomberg News reports
May 28 (Reuters) - BP's BP.L Castrol lubricants business is attracting interest from companies such as India's Reliance Industries RELI.NS, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The business has also attracted interest from buyout firms Apollo Global Management APO.N 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 BAM.TO and Stonepeak Partners, it added.
BP, Apollo Global and Lone Star declined to comment, while Reliance Industries did not immediately respond outside business hours in India.
The bidders would join Saudi Aramco 2222.SE 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.
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