BP share price forecast as it sells Castrol to Stonepeak Partners — TradingView News
BP share price has pulled back in the past few weeks as investors have watched energy prices dip. The stock was trading at 427p, down by 10% from its highest point in November. So, will the stock rebound after the company starts its divestments?
BP PLC made its first step in its divestment strategy
BP share price will be in the spotlight after the company announced a deal to sell a large stake in its Castrol business. In an announcement, the company said that it will sell its majority stake to Stonepeak Partners in a deal valuing it at $10.1 billion.
BP will net about $6 billion in cash from the transaction and remain as a minority investor. This sale is part of the company’s turnaround strategy that seeks to unload businesses worth over…
