All articles tagged with #castrol
bp has agreed to sell a 65% stake in Castrol to Stonepeak for $10.1 billion, as part of its strategy to simplify its portfolio and strengthen its balance sheet, with the transaction expected to complete by the end of 2026 and proceeds used to reduce debt.
BP is selling a 65% stake in its Castrol lubricants business to private equity firm Stonepeak for $6 billion as part of its strategy to reduce debt and focus on core oil and gas operations, with BP retaining a 35% stake and the deal expected to complete by the end of 2026.
BP has agreed to sell a 65% stake in its Castrol lubricants business to US investment firm Stonepeak for $10.1 billion, as part of BP's strategy to reduce debt and streamline operations, with proceeds to be used for debt repayment and strategic refocusing.
BP has sold a 65% stake in its Castrol motor oil division to US investment firm Stonepeak for $6 billion, valuing Castrol at $10.1 billion, as part of BP's strategy to focus on core oil and gas businesses and reduce debt, while shifting away from green energy investments.
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.
Stonepeak is set to acquire a majority stake in Castrol from BP in a $10.1 billion deal, with BP retaining a 35% interest and CPP Investments investing up to $1.05 billion, supporting Castrol's growth in the global lubricants market.