Castrol India Shares Soar 8% as BP Sells Majority Stake in Parent to Stonepeak

• BP agreed to sell a 65% stake in Castrol to Stonepeak for a $10 billion enterprise value.
• Castrol India shares surged over 8% following the announcement of the deal.
• BP will receive $6 billion in net proceeds, used to reduce net debt to $14-18 billion by end 2027.
• The transaction strengthens BP's balance sheet, simplifies its portfolio, and focuses on downstream operations.
• Deal includes minority interests in Castrol India (49%), Vietnam, Saudi Arabia, Thailand; completion by end 2026.

Why It Matters: BP's strategic sale of Castrol stake to Stonepeak boosts Castrol India shares and strengthens BP's finances.