BP trims stake in Castrol India by 11%

BP held a 71 percent stake in the company before the sale

Reuters May 19, 2016 15:18:10 IST
BP trims stake in Castrol India by 11%

Oil major BP Plc sold part of the stake its unit Castrol Ltd holds in Castrol India Ltd, but said it would remain a majority shareholder in the company.

BP trims stake in Castrol India by 11

Reuters

The company said it sold an 11.5 percent stake in the Indian lubricants maker to a range of domestic and international investors. It held a 71 percent stake in the company before the sale.

Terms of the deal were not disclosed.

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