BP Sells Majority Stake in Castrol for $6bn as It Refocuses on Core Oil and Gas Business
BP has agreed to sell a controlling stake in its Castrol lubricants business in a deal worth $6bn (£4.4bn), as the energy giant accelerates efforts to streamline operations and reduce debt. The London-listed company said it has sold a 65% stake in Castrol to US investment firm Stonepeak, valuing the motor oil brand at $10.1bn…