BP Intends to Sell Half of Lightsource BP, Bids Due in June

BP plc (BP) , the UK-based energy major, is looking to sell a 50% stake in its solar unit, Lightsource BP, as part of a broader effort to cut costs, improve returns and address investor concerns. The energy major is seeking a strategic partner that will provide cash and commit to future investments, with initial bids due in June, according to a report by Reuters.BP, which took full control of Lightsource BP last October for £400 million plus £2.1 billion in debt, is now looking to partially divest the unit. ...