Hi, it’s Fareed Sahloul in New York, winding down for Christmas with news of yet more multibillion-dollar M&A at the end of this hectic year—this time, it’s coming from oil giant BP. Please note that ...

BP has agreed to sell a majority stake in its Castrol lubricants arm to US-based infrastructure business Stonepeak for $6billion, or £4.4billion. As part of the deal, BP will sell a 65 per cent stake ...

Banks are preparing to sell $3.75 billion in debt to back Stonepeak Partners’ acquisition of a majority stake in BP Plc’s Castrol division, taking advantage of a hot credit market to offload risk long ...

Under the deal, BP is set to receive roughly $6 billion in proceeds from the sale of a 65% stake to Stonepeak.

BP p.l.c. is divesting 65% of its Castrol brand to Stonepeak for $6 billion, accelerating its $20 billion divestment plan. BP will use the $6 billion proceeds to reduce net debt, targeting a $14B–$18B ...

Shares of Castrol India surged 9% to hit the day’s high of Rs 202.40 on the NSE on Wednesday after BP announced its decision to sell a 65% shareholding in parent Castrol Limited to Stonepeak, at an ...