BP Completes Sale of 65% Castrol Stake for $6 Billion
BP said it closed the sale to Stonepeak and will use the $6 billion proceeds to reduce debt.
LONDON (dpa-AFX) - Energy major BP p.l.c. (BP.L) said Monday that it has closed the sale of a 65% stake in its lubricants business Castrol to Stonepeak.The company said it will use the proceeds of $6 billion to reduce debt.The transaction includes minority interests in Castrol's operations in sever…