--BP is considering selling its lubricants business in an attempt to win back investor confidence and satisfy demands from activist investor Elliott Management, who has built up a nearly 5% stake in the business, Bloomberg reported, citing people familiar with the matter.
--BP's lubricant business operates under the Castrol brand and could be worth about $10 billion in a deal. The unit is among the assets that Elliott has identified for potential disposals and the divestment could be announced during its capital markets day on Feb. 26, Bloomberg reported.
--Representatives for BP and Elliott declined to comment, the report said.
Full story: https://shorturl.at/8JRwI
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
February 19, 2025 01:52 ET (06:52 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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