Sale24 Dec 2025, 03:21 pm
BP p.l.c. Agrees to Sell 65% Shareholding in Castrol to Stonepeak at $10 Billion Enterprise Value
AI Summary
BP p.l.c. has reached an agreement to sell a 65% shareholding in Castrol to Stonepeak at an enterprise value of $10 billion. The transaction is expected to complete by end of 2026, subject to regulatory approvals. BP will treat its retained stake in Castrol as an equity accounted investment and appoint two Board seats to the new incorporated joint venture on closing. The sale is part of BP’s previously announced $20 billion divestment programme.
Key Highlights
- BP to sell a 65% shareholding in Castrol to Stonepeak at an enterprise value of $10 billion.
- Transaction is expected to complete by end of 2026, subject to regulatory approvals.
- BP to treat its retained stake in Castrol as an equity accounted investment.
- Transaction is part of BP’s previously announced $20 billion divestment programme.
- BP to appoint two Board seats to the new incorporated joint venture on closing.