BP completes $6 billion Castrol sale to Stonepeak Partners
In short
The transaction formally transfers ownership of the Castrol lubricants business away from BP to investment firm Stonepeak Partners. The entire commercial divestment was concluded at a valuation totaling $6 billion. This definitive handoff concludes the corporate acquisition process between the energy company and the private investment group.
Key points
- Ownership of the Castrol lubricants business has formally shifted over to Stonepeak Partn…: Ownership of the Castrol lubricants business has formally shifted over to Stonepeak Partners.
- The multi-billion-dollar deal represents a total financial value of precisely $6 billion.: The multi-billion-dollar deal represents a total financial value of precisely $6 billion.
- The formal transaction between the two corporate parties has officially reached full comp…: The formal transaction between the two corporate parties has officially reached full completion.