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.”
