bp agrees to sell 65% stake in UK-based Castrol at $10 billion enterprise value
This story was originally published at 16:13 IST on 24 December 2025
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MUMBAI – bp has agreed to sell 65% stake in the UK-based Castrol, parent company of Castrol India, at an enterprise value of $10.10 billion, according to a press release. bp will sell its stake to Stonepeak, an international alternative investment firm.
bp expects to receive around $6 billion as net proceeds from the sale of its stake in Castrol. The British energy company expects to complete the sale by the end of 2026. The transaction includes Castrol's minority interests of $1.8 billion, a significant portion of which comes from Castrol India Ltd. Castrol owns 51% in Castrol India, according to the shareholding pattern at the end of September quarter.
Following the 65% stake sale, a new joint venture will be incorporated with Stonepeak holding 65% stake and bp 35%, as per a press release. bp has the option of selling the remaining 35% stake in Castrol once the two-year lock-in period expires. End
Reported by Anshul Choudhary
Edited by Rajeev Pai
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