BP Considers Selling Lubricants Business in $10 Billion Deal, Bloomberg Says, Citing Sources

Dow Jones

Feb 19, 2025

--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)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2512129148"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2512129148\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2512129148?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-02-19 14:52","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2512129148","market":"fut","top_or_hot":-1,"title":"BP Considers Selling Lubricants Business in $10 Billion Deal, Bloomberg Says, Citing Sources","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  --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. \n</p>\n<p>\n  --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. \n</p>\n<p>\n  --Representatives for BP and Elliott declined to comment, the report said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Full story: https://shorturl.at/8JRwI \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Adam Whittaker at adam.whittaker@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 19, 2025 01:52 ET (06:52 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BP Considers Selling Lubricants Business in $10 Billion Deal, Bloomberg Says, Citing Sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBP Considers Selling Lubricants Business in $10 Billion Deal, Bloomberg Says, Citing Sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-19 14:52</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  --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. \n</p>\n<p>\n  --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. \n</p>\n<p>\n  --Representatives for BP and Elliott declined to comment, the report said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Full story: https://shorturl.at/8JRwI \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Adam Whittaker at adam.whittaker@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 19, 2025 01:52 ET (06:52 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0162691827.USD","symbol_name":"BGF US BASIC VALUE \"A4\" INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2512129148","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2512129148","pubTimestamp":1739947920,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"--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.--Representatives for BP and Elliott declined to comment, the report said.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","BK4588":"碎股","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","BK4201":"综合性石油与天然气企业","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1829250122.USD":"高盛欧洲核心股票组合Acc","BK4585":"ETF&股票定投概念","BP":"英国石油","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1"},"translate_title":"彭博社援引消息人士的话称，BP考虑以100亿美元的交易出售润滑油业务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BP":1},"content_text":"--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. \n\n\n  --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. \n\n\n  --Representatives for BP and Elliott declined to comment, the report said. \n\n\n \n\n\n  Full story: https://shorturl.at/8JRwI \n\n\n \n\n\n  Write to Adam Whittaker at adam.whittaker@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 19, 2025 01:52 ET (06:52 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}