BP plc

30 days ago

BP – “agrees to sell 65% in Castrol to Stonepeak”, further simplification and debt reduction progress

BP (BP.) has announced that, “following a comprehensive strategic review of Castrol”, it has reached an agreement to sell a 65% shareholding in Castrol, arguing that it “represents a significant milestone in bp’s commitment to accelerate its strategy, including simplifying the portfolio, strengthening the balance sheet, and focusing the downstream on its leading integrated businesses”. What about that and a slightly higher share price at 428p in response?