BP plans to sell its Castrol lubricants business
BP is considering selling its Castrol lubricants business, with the transaction amount expected to reach $10 billion. BP has not made a final decision and may announce clearer plans at the investor meeting on February 26. The company is facing challenges from activist investors, including Elliott, which holds a 5% stake in BP and is urging management to take action to boost the stock price. BP declined to comment on this news
According to reports from external media, sources say that BP is considering the sale of its Castrol lubricants business, with the transaction amount expected to reach USD 10 billion (HKD 78 billion).
The report states that BP has not made a final decision regarding the sale and may announce a clearer plan as early as the investor meeting on February 26.
Sources indicate that the group also has multiple options to boost its business in response to challenges from activist investors, including Elliott. Elliott has indicated that it holds a 5% stake in BP and is urging the company's management to take concrete actions to drive up the stock price.
BP declined to comment on the above news
