BP Sells 65% Castrol Stake to Stonepeak in $10.1 Billion Deal

Oil major BP has agreed to sell a 65% stake in its Castrol lubricants business to US investment firm Stonepeak. The deal values the Castrol unit at $10.1 billion, with BP set to receive approximately $6 billion in net proceeds.

• BP divests 65% stake in Castrol to Stonepeak.
• Deal values Castrol lubricants business at $10.1 billion.
• BP to receive around $6 billion in net proceeds.
• Sale is part of BP's $20 billion asset divestment plan.
• Impacts publicly listed Castrol India Limited shareholders.
• BP will retain a 35% stake in a new joint venture.

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