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HISTORICAL FACTS: Bp nets ps4 4bn boost for balance sheet after castrol deal completes | History Defined

Castrol British Petroleum Meg O’Neill Oil Stonepeak

BP agreed the sale of a 65% holding in Castrol to US investment firm Stonepeak in December last year (PA) - (PA Archive)

BP has completed the sale of a majority stake in lubricants business Castrol in a move that gives it a 6 billion US dollar (£4.4 billion) boost to pay debts down further.

The oil major agreed the sale of a 65% holding in Castrol to US investment firm Stonepeak in December last year and will retain the remaining 35% stake in a new joint venture.

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