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Bp plc (London) has reached an agreement to sell a 65% shareholding in lubricants business Castrol to Stonepeak, at an enterprise value of $10.1 billion.

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bp has reached an agreement to sell a 65% shareholding in Castrol at an enterprise value of $10 billion. Total net proceeds to bp of c.$6 billion, including accelerated dividend payments, will be ...

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Upon completion of the transaction, a new joint venture will be incorporated, comprising a 65% Stonepeak and 35% BP ownership For ads that aren’t personalized, ad measurement, audience surveys, and ...

BP will sell 65% of Castrol to Stonepeak for $10.1 billion, generating $6 billion in net proceeds. The deal supports BP's strategy.

Anthony Borreca, senior managing director and energy co-head at New York City-based Stonepeak, said, "Castrol's 126-year ...