BP Sells 65% Castrol Stake to Stonepeak for $6 Billion; Castrol India Shares Jump

• BP agreed to sell a 65% stake in its Castrol unit to US investment firm Stonepeak for $6 billion.
• The deal values Castrol at $10.1 billion, with BP retaining a minority interest via a joint venture.
• Proceeds will reduce BP's net debt, aligning with its $20 billion divestment plan by end 2027.
• Castrol India shares initially rose 8% on the news, closing nearly 2% higher.
• Canada's CPPIB will invest up to $1.05 billion as part of the transaction.

Why It Matters: BP divests majority Castrol stake to Stonepeak for $6 billion to cut debt and streamline operations.