BUZZ-Castrol India up; media report says global unit sees bidding interest

Reuters
05-29
BUZZ-Castrol India up; media report says global unit sees bidding interest

** Industrial and automotive lubricant maker Castrol India CAST.NS rises 6.4% to 219.8 rupees

** Energy major BP Plc's BP.L global Castrol lubricants unit is attracting interest from multiple bidders, Bloomberg News reported on Wednesday

** Castrol India is owned by the BP Group through the larger Castrol lubricants business

** Bidders could consider all or parts of the business; India's Reliance Industries RELI.NS among those interested - report

** Buyout firms Apollo Global Management APO.N and Lone Star Funds, and asset managers Stonepeak Partners and Brookfield Asset Management BAM.TO, also interested - report

** Oil major Saudi Aramco 2222.SE considering a potential bid as well, Reuters reported in March

** BP, Apollo Global and Lone Star declined to comment

** Reliance did not respond immediately to a Reuters request for comment

** With session's gains, CAST up ~17% in the last 12 months

(Reporting by Ananta Agarwal in Bengaluru)

((Ananta.Agarwal@thomsonreuters.com))

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