BP Sells Majority Stake in Castrol to Stonepeak for $10.1 Billion

BP has agreed to sell a 65% stake in its Castrol lubricants business to Stonepeak for an enterprise value of $10.1 billion. This deal will generate approximately $6 billion in net proceeds for BP, which will be used to reduce debt. BP will retain a 35% share in a new joint venture, and the transaction significantly impacts Castrol India.

• BP divests 65% stake in global Castrol lubricants business to Stonepeak.
• Enterprise value of the transaction is reported at approximately $10.1 billion.
• BP will receive about $6 billion in net proceeds to reduce company debt.
• A new joint venture will see Stonepeak own 65% and BP retain 35%.
• Deal expected to close by end-2026, pending regulatory approvals.
• Castrol India shares surged following news, reflecting local market impact.

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