BP to Sell 65% Stake in Castrol to Stonepeak for $10B EV [Yahoo! Finance]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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US:NYSE Investor Relations:
bp.com/en/global/corporate/investors.html
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Source: Yahoo! Finance
The leading integrated player has the option to sell this remaining stake after a lock-up period of two years. BP estimated the enterprise value to be around $10.1 billion implying it will receive around $6 billion in net proceeds from the sale. BP expects to close the deal by 2026 end following regulatory approvals. This move aligns with BP's strategy to reduce its debt profile and focus on more profitable and attractive businesses. The company had previously announced a goal to divest $20 billion of assets. With the inclusion of the Castrol deal, BP now has $11 billion of divestments planned, some of which have already been completed. Following this transaction, BP expects to reduce its debt to $14-$18 billion (by the end of 2027) from $26.1 billion reported in its third-quarter earnings update. Notably, BP is divesting non-profitable businesses to strengthen its business model. With a Zacks Rank #3 (Hold), the company believes that, over the long term, these moves will enhanc
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BP
News
- BP Selling A 65% Stake In Castrol Could Be A Great Move [Seeking Alpha]Seeking Alpha
- BP Appoints Meg O'Neill as the First Female CEO [Yahoo! Finance]Yahoo! Finance
- Stocks Rally During the Week Due to Economic Confidence [Yahoo! Finance]Yahoo! Finance
- Dollar Index Sees Continued Downward Pressure [Yahoo! Finance]Yahoo! Finance
- Stocks See Support As Year-End Bullish Sentiment Continues [Yahoo! Finance]Yahoo! Finance
BP
Earnings
- 11/5/25 - Beat
BP
Sec Filings
- 12/29/25 - Form 6-K
- 12/18/25 - Form 25-NSE
- 12/18/25 - Form 6-K
- BP's page on the SEC website