BP considering sale of lubricants business - report.
BP is reportedly considering a potential sale of its lubricants business.
BP
19 February 2025 08:27:07
Source: Sharecast
Bloomberg cited people familiar with the matter as saying that the oil major’s unit - which operates under the Castrol brand - could be worth about $10 billion in a deal.
It was understood that a sale of the business is one of the many options BP is considering to win back investor confidence after years of underperformance. The unit is also among the assets that activist investor Elliott Management has identified for potential disposals.
Sources told Bloomberg that BP might announce the potential divestment during its capital markets day on 26 February. They added that deliberations on the potential disposal are ongoing and no final decisions have been made.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
