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BP kicked off the sale process for Castrol in February. After a two-year lock-up period, BP has the option to sell its stake.
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BP has confirmed the sale of a majority stake in its Castrol lubricants division to US infrastructure investment firm Stonepeak in a deal that values the business at about $10bn including debt.
Stonepeak will acquire 65% of lubricants business as part of wider plans for the oil company to pay down its debt ...
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The agreement is the oil company's most ambitious asset sale so far as it tries to cut debt and boost returns while scaling ...
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