BP to sell 65% stake in Castrol to Stonepeak for $6 billion

Core Viewpoint - BP has agreed to sell a 65% stake in its Castrol unit to investment firm Stonepeak for approximately $6 billion [1] Company Summary - The transaction involves BP divesting a significant portion of its Castrol business, indicating a strategic shift in its investment focus [1] - The sale reflects BP's ongoing efforts to streamline operations and focus on core areas of growth [1] Industry Summary - The deal highlights the increasing interest from investment firms in acquiring stakes in established brands within the lubricants sector [1] - This transaction may signal a trend of consolidation in the industry as companies seek to optimize their portfolios and enhance shareholder value [1]