Market Chatter: BP in Advanced Talks to Sell Castrol to Stonepeak

MT Newswires Live12-04 23:56

BP (BP) is in advanced talks to sell its Castrol lubricants business to infrastructure investment group Stonepeak, the Financial Times reported Thursday, citing people familiar with the matter.

Stonepeak is perceived as the lead to acquire Castrol and is discussing a deal that would value the business at over $8 billion, the people reportedly told the Financial Times.

BP didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 37.41, Change: +0.17, Percent Change: +0.46

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