BP Raises £785m to Pay Off Debt After Selling Down Aker BP Stake
14 Articles
14 Articles
BP announced the sale of a 5% share in the Norwegian producer of oil and gas Aker BP for $1.06 billion, accelerating its strategy of portfolio simplification and strengthening of the balance sheet. The operation took advantage of the expressive valuation of Aker BP's shares throughout this year, driven by the escalation of oil and gas prices as a result of the conflict in the Middle East. Exclusive material for subscribers. To have full access, …
BP raises £785m to pay off debt after selling down Aker BP stake
BP has offloaded around a third of its stake in Norwegian oil and gas company Aker BP marking a major cash injection as it seeks to bring down its debt pile. The FTSE 100 energy giant told markets on Thursday it had sold a five per cent stake in Aker for around NOK9.83bn (£785m). BP [...]
BP secured revenue of approximately $1.06 billion from the sale of a 5% stake it held in the Norwegian oil and gas company Aker BP, as part of the strategic restructuring of its investment portfolio.
BP raises over $1bn from Aker BP stake sale
British energy major BP has raised about $1.06bn by selling part of its stake in Norwegian oil and gas producer Aker BP as it continues efforts to strengthen its balance sheet. The company sold 31.6m shares, representing around 5% of Aker BP’s total issued share capital, for NOK311 per share. The transaction generated gross proceeds …
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