Latest news with #CD&R
Yahoo
08-07-2025
- Business
- Yahoo
BP's $8 Billion Castrol Sale Draws Bid From Firm Tied to Chairman
BP plc's BP planned sale of its Castrol lubricants business, valued at around $8 billion, is drawing interest from a range of high-profile bidders, including private equity giant Clayton Dubilier & Rice (CD&R), according to a report from Sky News. The bid by CD&R is particularly notable because BP's current chairman, Helge Lund, serves as an operating advisor to the firm. While insiders told Sky News that Lund has no involvement in CD&R's interest in Castrol, the connection adds an unusual dimension to the unfolding transaction. Lund is set to step down as its chairman within the next year and the company is actively seeking a successor. Notably, Sky News recently reported that both Sam Laidlaw (former Centrica CEO) and Ken MacKenzie (ex-BHP chair) were considered for the role but have withdrawn from the selection process. The auction for Castrol began earlier this year as BP continues to navigate a challenging strategic landscape. Other reported bidders for the lubricants unit include Apollo Global Management, Lone Star Funds and India's Reliance Industries, per Bloomberg News. These suitors reflect a mix of global strategic and financial players vying for a stake in one of the oil major's longest-standing divisions. Castrol, known worldwide for its motor oils and industrial lubricants, has long been a profitable yet non-core asset for BP. The decision to divest comes as the company faces mounting pressure from activist investor Elliott Management, which is calling for cost cuts and improved returns. These internal demands, coupled with market speculation, have intensified scrutiny on BP's direction. Just last week, London-listed rival Shell publicly denied a Wall Street Journal report claiming early-stage acquisition talks with BP. Although Shell dismissed the rumor, the episode reinforced BP's current vulnerability and its perception as a potential takeover target. CD&R's interest in Castrol aligns with its growing footprint in the United Kingdom. The firm already owns the Morrisons supermarket chain and Motor Fuel Group, a major fuel retailer. If successful, a Castrol acquisition would mark a significant expansion of its energy-adjacent portfolio. A spokesperson for CD&R declined to comment and BP has not yet responded publicly regarding the ongoing auction process. BP currently carries a Zack Rank #3 (Hold). Investors interested in the energy sector may look at a few better-ranked stocks like EQT Corporation EQT, W&T Offshore, Inc. WTI and Oceaneering International, Inc. OII. EQT Corporation, W&T Offshore and Oceaneering International carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. As the largest natural gas producer in the United States, EQT Corp is well-positioned to capitalize on the growing demand for clean energy. With numerous premium natural gas drilling locations in the core Appalachian Basin, the company's production outlook is solid. The firm aims for net-zero Scope 1 and 2 emissions from operations by 2025, underscoring its commitment to sustainability. The Zacks Consensus Estimate for EQT's 2025 EPS is pegged at $3.56. The company has a Growth Score of B. W&T Offshore benefits from its prolific Gulf of America assets, which offer low decline rates, strong permeability and significant untapped reserves. The company's acquisition of six shallow-water fields in the GoA added 18.7 million barrels of proved reserves and 60.6 million barrels of proved plus probable reserves. The firm is focused on strategically allocating capital toward organic projects, which should boost its production outlook. WTI has a Value Score of B. Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability. The Zacks Consensus Estimate for OII's 2025 EPS is pegged at $1.79. The company has a Value Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP) : Free Stock Analysis Report EQT Corporation (EQT) : Free Stock Analysis Report W&T Offshore, Inc. (WTI) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
01-07-2025
- Business
- Yahoo
CD&R joins race for BP's $8 billion Castrol unit, Sky News reports
-- Private equity firm Clayton Dubilier & Rice has entered the competition to acquire Castrol, BP (NYSE:BP)'s lubricant business valued at approximately $8 billion, according to Sky News, citing sources familiar with the matter. The firm joins several other bidders in the auction for the BP unit, including Apollo Global Management (NYSE:APO), Lone Star Funds, and India's Reliance Industries (NSE:RELI), whose involvement Bloomberg News previously reported. CD&R's bid adds an interesting dimension to the sale process due to its connection with BP's leadership. Helge Lund, the current chairman of BP's board who is scheduled to step down within the next 12 months, serves as an operating advisor to CD&R. Sources close to the matter have indicated to Sky News that Lund is not participating in CD&R's offer for the Castrol division. The Castrol divestiture is part of BP's broader strategy to streamline its portfolio and unlock capital amid growing pressure from activist investor Elliott Investment Management. Elliott's involvement comes at a pivotal moment, as BP has reversed parts of its earlier shift toward renewables and renewed its focus on oil and gas. Representatives from BP and CD&R have yet to respond to request for comment. Related articles CD&R joins race for BP's $8 billion Castrol unit, Sky News reports Centene stock tumbles after withdrawal of 2025 guidance JPMorgan Chase stock rises after $50 billion buyback, dividend hike
Yahoo
01-07-2025
- Business
- Yahoo
Motor Fuel Group-owner among suitors for BP's $8bn Castrol unit
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 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, according to insiders. The buyout firm is one of the world's largest, and owns assets in the UK including Morrisons, the supermarket chain, and Motor Fuel Group. Bloomberg News has reported that Apollo Global Management, Lone Star Funds and India's Reliance Industries are bidders for the lubricants business. The auction of Castrol is progressing at a turbulent time for BP, which is under siege from Elliott Management, the activist investor, amid demands for the company to slash costs and boost profitability. Last week, London-listed oil rival Shell denied a Wall Street Journal report that it was in early-stage talks to buy BP, saying it had not been actively considering an offer. While erroneous, the story underlined the fact that BP is regarded as a plausible takeover target because of its travails. Sky News revealed recently that former Centrica chief executive Sam Laidlaw and Ken MacKenzie, the former chair of mining giant BHP, were among those approached to replace Mr Lund at BP. Both have now withdrawn from the process. A spokesman for CD&R declined to comment, while BP has been contacted for comment.
Tahya Masr
06-05-2025
- Business
- Tahya Masr
Opella launches as an independent company to redefine the future of self-care
It is official: Opella is now a standalone company. Sanofi announced today the closing of the sale to CD&R of a 50.0% controlling stake of Opella, Sanofi keeping a significant shareholding with a 48.2% stake and Bpifrance owning a 1.8% stake. Opella is stepping into its next chapter with powerful backing, and a clear mission - 'Health in Your Hands' - making self-care as simple as it should be. This is not just a change of ownership. This is a bold move. As the third-largest global player in the €190 billion Over-The-Counter and Vitamins, Minerals and Supplements space, Opella starts a new journey in one of the most dynamic, resilient corners of healthcare – where megatrends like aging populations, digital access, and self-care demand are rewriting the rulebook. Opella is headquartered in France but thinks global. Its 100 brands – including Telfast, Doliprane, Bronchicum, Enterogermina, Maalox, Nasacort, Maxilase, Bisolvon and Buscopan – are already trusted names in homes around the world. The self-care environment is still far too complex, leaving most people who suffer without treatment. Opella is grounded in science, with deep consumer obsession and a commitment to sustainability, to offer solutions that help people access the care they deserve. Julie Van Ongevalle, Opella President and CEO: 'Going independent is not just a milestone. It is our moment. I am proud of our talented team of 11,000 who made this happen. With the right partners and a sharp focus, we are set to reshape how people everywhere manage their health – simply, confidently, and on their terms.' Feirouz Ellouze, General Manager of Opella AMET Zone (Africa-Middle East-Türkiye) 'At Opella, our mission is to simplify self-care, making it as simple as it should be. We work together with all our stakeholders to enhance health literacy and extend our vision of 'health in your hands'. This new chapter at Opella is dedicated to advancing our journey towards becoming fast-moving consumer healthcare company globally. We firmly believe in our people and their ability to create a lasting legacy in the countries where we operate.' David Taylor takes on the role of Chairman of Opella's Supervisory Board. Former Chairman and CEO of Procter & Gamble, and current Chairman of the Board of Delta and Senior Advisor to CD&R funds, David brings decades of brand experience, people-first leadership, and a deep belief in doing things better. David Taylor, Chairman of Opella's Supervisory Board: 'What drew me to Opella is a mission with meaning, a company with courage, a talented team, and a business ready to break new ground. Opella is not here to tweak the system – but to reimagine it.' The priority is clear: strengthen trusted brands and deepen presence in key markets. The possibilities are endless – from prescription to over-the-counter switches to smart acquisitions and geographic expansion. This is more than independence. It is the freedom to act. The power to simplify. And the drive to redefine the future of self-care.
Mid East Info
05-05-2025
- Business
- Mid East Info
Opella launches as an independent company to redefine the future of self-care. - Middle East Business News and Information
UAE, May 2025 – It is official: Opella is now a standalone company. Sanofi announced today the closing of the sale to CD&R of a 50.0% controlling stake of Opella, Sanofi keeping a significant shareholding with a 48.2% stake and Bpifrance owning a 1.8% stake. Opella is stepping into its next chapter with powerful backing, and a clear mission – 'Health in Your Hands' – making self-care as simple as it should be. This is not just a change of ownership. This is a bold move. As the third-largest global player in the €190 billion Over-The-Counter and Vitamins, Minerals and Supplements space, Opella starts a new journey in one of the most dynamic, resilient corners of healthcare – where megatrends like aging populations, digital access, and self-care demand are rewriting the rulebook. Opella is headquartered in France but thinks global. Its 100 brands – including Telfast , Enterogermina, Dulcolax, Maalox, Buscopan ,Mucosolvan , Bronchicum ,Naselfast and Pharmaton– are already trusted names in homes around the world. The self-care environment is still far too complex, leaving most people who suffer without treatment. Opella is grounded in science, with deep consumer obsession and a commitment to sustainability, to offer solutions that help people access the care they deserve. Julie Van Ongevalle, Opella President and CEO: 'Going independent is not just a milestone. It is our moment. I am proud of our talented team of 11,000 who made this happen. With the right partners and a sharp focus, we are set to reshape how people everywhere manage their health – simply, confidently, and on their terms.' Feirouz Ellouze, General Manager of Opella AMET Zone (Africa-Middle East-Türkiye) 'At Opella, our mission is to simplify self-care, making it as simple as it should be. We work together with all our stakeholders to enhance health literacy and extend our vision of 'health in your hands'. This new chapter at Opella is dedicated to advancing our journey towards becoming fast-moving consumer healthcare company globally. We firmly believe in our people and their ability to create a lasting legacy in the countries where we operate.' David Taylor takes on the role of Chairman of Opella's Supervisory Board. Former Chairman and CEO of Procter & Gamble, and current Chairman of the Board of Delta and Senior Advisor to CD&R funds, David brings decades of brand experience, people-first leadership, and a deep belief in doing things better. David Taylor, Chairman of Opella's Supervisory Board: 'What drew me to Opella is a mission with meaning, a company with courage, a talented team, and a business ready to break new ground. Opella is not here to tweak the system – but to reimagine it.' The priority is clear: strengthen trusted brands and deepen presence in key markets. The possibilities are endless – from prescription to over-the-counter switches to smart acquisitions and geographic expansion. This is more than independence. It is the freedom to act. The power to simplify. And the drive to redefine the future of self-care. About Opella. Opella is the self-care challenger with the third-largest portfolio in the Over-The-Counter (OTC) & Vitamins, Minerals & Supplements (VMS) market globally. Our mission is to bring health in people's hands by making self-care as simple as it should be. For half a billion consumers worldwide – and counting. At the core of this mission is our 100 loved brands, our 11,000-strong global team, our 13 best-in-class manufacturing sites and 4 specialized science and innovation development centers. Headquartered in France, Opella is the proud maker of many of the world's most loved brands, including Telfast , Enterogermina, Dulcolax, Maalox, Buscopan ,Mucosolvan , Bronchicum ,Naselfast, Pharmaton. B Corp certified in multiple markets, we are active players in the journey towards healthier people and planet.
