BP announced on Wednesday it had agreed to sell a 65% stake in its Castrol lubricants business to βU.S. investment firm Stonepeak for about $6 billion, a βsignificant step in the British oil major's $20 billion divestment plan aimed at cutting debt and boosting returns.
The deal values Castrol at $10.1 billion, and marks the British company's βmost ambitious asset sale so far in its efforts to streamline βoperations and scale back
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