Oil giant BP to sell 65% stake in $10 billion Castrol unit

BP to Sell Majority Stake in $10 Billion Castrol Lubricants Unit

BP Plc agreed to sell a majority stake in its Castrol lubricants division to US investment firm Stonepeak Partners to raise about $6 billion.

BP to sell 65% stake in Castrol to Stonepeak for $6 billion

BP has agreed to sell a 65% stake in its Castrol lubricants business to U.S. investment firm Stonepeak for about $6 billion, a significant step in the oil major’s $20 billion divestment plan aimed at cutting debt and boosting returns.

BP offloads Castrol majority stake to Stonepeak at $10 billion value

BP Castrol Sale: BP sells 65% of Castrol to Stonepeak for $10B, advancing its $20B divestment plan and reducing net debt.

Stonepeak to buy BP’s majority stake in Castrol for $8.9 billion

Stonepeak, founded by former Macquarie banker Mike Dorrell, is taking advantage of a divestment-led plan to turn around BP’s fortunes.

BP to Sell Majority Stake in Castrol Business for $6 Billion

(Bloomberg) — BP Plc agreed to sell a majority stake in its Castrol lubricants division to US investment firm Stonepeak Partners to raise about $6 billion.

BP to sell 65% stake in Castrol to Stonepeak