BP Weighs Sale of Castrol Lubricant Unit Amid Elliott Push (1)

BP Plc, in which activist investor Elliott Investment Management has built up a nearly 5% stake, is considering a potential sale of its lubricants business, according to people familiar with the matter.

The oil major’s unit, which operates under the Castrol brand, could be worth about $10 billion in a deal, the people said, asking not to be identified as the matter is private. A sale of the business is one of the many options BP is considering to win back investor confidence after years of under performance, the people said. The unit is also among the assets that ...