Calumet Specialty Products Partners (NASDAQ:CLMT) spiked in this afternoon’s trading before pulling back, following a Bloomberg report that the company is considering a sale of its finished lubricants business, which could fetch ~$500M.

Calumet’s lubricants unit, which reportedly is receiving interest from P-E firms, makes motor oil and grease under the Royal Purple and Bel-Ray brands, among other products.

In a bullish report published recently on Seeking Alpha, Patient Tech Investor says Calumet “will continue generating cash for the rest of this year and into the foreseeable future.”


Source link

Comments to: Calumet considers selling lubricants unit for $500M – Bloomberg (NASDAQ:CLMT)

Your email address will not be published. Required fields are marked *

Attach images - Only PNG, JPG, JPEG and GIF are supported.


Welcome to Typer

Brief and amiable onboarding is the first thing a new user sees in the theme.
Join Typer
Registration is closed.