BP to sell 65% stake in Castrol to Stonepeak for $6 billion
TL;DR Summary
BP is selling a 65% stake in its Castrol lubricants unit to Stonepeak for $6 billion, valuing the unit at $10.1 billion, as part of a broader strategy to divest $20 billion of assets and focus on core oil and gas operations. The sale is a milestone in BP's strategic reset, which includes leadership changes and a focus on simplifying its business.
- Oil giant BP to sell 65% stake in $10 billion Castrol unit CNBC
- BP Agrees to Sell Majority of Castrol Lubricants Unit to Stonepeak The Wall Street Journal
- Stonepeak to Acquire Majority Controlling Interest in Castrol from bp Stonepeak
- FTSE 100 Live: Pound Holds Above $1.35 Near Highest Since October Bloomberg.com
- BP to sell 65% stake in Castrol to Stonepeak for $6 billion Reuters
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