Reported Earlier, BP Sells 5% Of Its 15.9% Stake In The Aker BP JV For Gross Proceeds Of ~NOK9.83B (~$1.06B); Expects FY26 Asset Disposal Proceeds Of ~$9B, Which Is ~$1B Higher Than Previous Guidance
Benzinga Newsdesk 1 day ago
Asset SalesNewsM&A
bp has successfully executed the sale of 5% of its 15.9% shareholding in leading independent Norwegian oil and gas producer Aker BP at a price of NOK 311 per share, raising gross proceeds of approximately NOK 9.83
bp has successfully executed the sale of 5% of its 15.9% shareholding in leading independent Norwegian oil and gas producer Aker BP at a price of NOK 311 per share, raising gross proceeds of approximately NOK 9.83 billion ($1.06 billion).
Following the sale, bp will hold 68.7 million shares in Aker BP, representing an approximate 10.9% interest in the company. bp has entered into a 90-day lock-up for its remaining shares in Aker BP, subject to customary exemptions.
Proceeds from the sale will go towards strengthening bp’s balance sheet. bp now expects full year 2026 divestment and other proceeds to be around $9 billion, around $1 billion higher than previously guided.