BP sells stake in motor oil arm Castrol in $6bn deal
Source: BBC
Archie MitchellBusiness reporterReutersThe company that became Castrol was founded in London in 1899BP has struck a $6bn (£4.4bn) deal to sell a majority stake in its motor oil division Castrol to a US investment firm.The oil giant sold a 65% stake in Castrol, which makes lubricants for cars, motorcycles and industrial vehicles, to New York-based Stonepeak.The deal valued Castrol at $10.1bn (£7.5bn), with BP…
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