BP Closes Castrol Sale To Stonepeak, Retains 35% Stake With Option To Sell After Two-Year Lock-Up; Receives $6B After-Tax Proceeds To Further Reduce Financial Obligations
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Why It Matters
BP sold most of its Castrol oil brand to a company called Stonepeak. BP kept 35% and got 6 billion dollars to pay down debts, which shows the company is getting stronger financially.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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