Following a strategic review, bp has agreed to sell a 65 per cent stake in Castrol to Stonepeak for an enterprise value of $10.1 billion, reflecting an EV/LTM EBITDA of 8.6x and highlighting the business’s growth potential.
bp has completed the sale of a 65 per cent stake in Castrol to Stonepeak for $6 billion, with proceeds directed towards reducing financial obligations. Castrol will operate independently, while bp retains a 35 per cent interest.
