Motor Fuel Group-owner among suitors for BP's $8bn Castrol unit

Why BP Became Target of Biggest Potential Oil Deal in Decades

Reports and rumors have intensified this year that BP is in the crosshairs of rivals, especially Shell, for a potential takeover that would be the largest deal in the oil industry since the Exxon and Mobil merger in 1999. Five years of U-turns in strategy and the abrupt departure of the architect of the ‘greener’ BP, Bernard Looney, have left investors unconvinced in the direction the UK supermajor is taking and whether it could – at some point,…

Motor Fuel Group-owner among suitors for BP's $8bn Castrol unit

Clayton Dubilier & Rice, which employs BP chairman Helge Lund as an advisor, is among the bidders for the troubled oil giant's lubricants division, Sky News learns.

Motor Fuel Group-owner among suitors for BP's $8bn Castrol unit | Money News | Tech, Entertainment, Sport, Fashion, Travel News

The private equity firm which employs BP’s chairman as an advisor is among the bidders exploring a takeover of Castrol, the oil giant’s lubricant arm which has been put up for sale for about $8bn (£5.8bn). Sky News has learnt that Clayton Dubilier & Rice (CD&R) has joined the ranks of strategic and financial bidders which are part of an auction launched by BP earlier this year. CD&R’s involvement in the process is notable because Helge Lund, who…

Motor Fuel Group-owner Among Suitors For BP's $8bn Castrol Unit - Great Yorkshire Radio

Sky News has learnt that Clayton Dubilier & Rice (CD&R) has joined the ranks of strategic and financial bidders which are part of an auction launched by BP earlier this year. CD&R’s involvement in the process is notable because Helge Lund, who is stepping down as BP chairman in the next 12 months, is an operating advisor to the buyout firm. Money blog: M&S gives update after hack Mr Lund has no involvement in CD&R’s work on an offer for Castrol,…