BP Sells Castrol for $6B, Boosts Cash Flow

BP sells majority stake in Castrol to Stonepeak for $10B, netting $6B; forms new joint venture with 65% ownership for Stonepeak, 35% for BP; part of $20B asset sale target, reducing net debt; Castrol, founded 126 years ago, top global brand in automotive, industrial, and marine lubricants, with 9 quarters of earnings growth; Stonepeak plans expansion, potential full BP exit after 2-year lock-up; regulatory approvals expected by end of 2026.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.